The Bank is Highly Rated “Triple A” institution
Dakar, May 12, 2009 - The Bank Group held a meeting with Fitch Rating Agency representatives to assess Bank Group in terms Capital Adequacy, Portfolio quality, liquidity position and ability to respond to the crisis.
Finance and Risk Management Director, Kodeidja Diallo; Financial Controller, Charles Boamah; Treasury Department Director, Pierre Van Peteghem and Private Sector Director, Timothy Turner, lead the discussions with Fitch representative, Eric Paget Blanc.
Rating of supranationals (Multilateral Development Banks –MDBs) and sovereign governments is a crucial assessment tool for investors and businesses seeking information on high creditworthy issuers on the international financial market.
The rating review exercise is performed each year by the four major international rating agencies, namely Fitch, S&P, Moody’s and JCR. They evaluate MDB’s rating using a set of factors, key among which are strong capitalisation and shareholder’s support; asset quality and risk management framework; sound financial policies and controls; and institutional governance.
Maintaining an appropriate level of capitalisation for both current and future operations of the Bank is fundamental in sustaining the financial integrity associated with a triple “A rating.” In this respect, “the Bank must continue to mitigate the risk of its portfolio (treasury assets and development credit related assets) through prudent financial policies on capitalization, liquidity, leverage and gearing,” Bank Group Finance and Risk Management Director, Kodeidja Diallo explained.