Global credit rating firm, Fitch rates NCBA B+, negative outlook
NCBA Group PLC and NCBA Bank Kenya have been assigned long-term default rating of B+ with a negative rating outlook by the global credit rating firm, Fitch Ratings.
The B+ rating is a result of the standalone creditworthiness of the Group on the back of limited probability of sovereign support. The negative outlook corresponds to the rating the firm has also assigned to Kenya, owing to the country’s credit profile and being the host to the Group’s operations.
Further, the global rating agency has highlighted that the lender’s mobile banking products particularly its market leading M-Shwari and Fuliza, provide the Group with outsized strength in digital banking.
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