Advertisement:

FITCH rating affirms Wema Bank's long-term national rating at BBB- with a stable outlook

Discussion in 'Breaking News Nigeria' started by djayz1, Feb 17, 2017.

Users Viewing Thread (Users: 0, Guests: 0)

    • GL Senior Member
    • GL Legend
    • Forum Author
    • Guru Member

    djayz1 Forum Author

    Member Since:
    Mar 11, 2013
    Message Count:
    19,096
    Likes Received:
    277
    Current Phone:
    Samsung Galaxy s3 - Android 4.3
    Sponsored Links:
    Fitch Ratings, a global leader in credit ratings and research has affirmed the Long-term National Rating of Wema Bank at (BBB-). This is reflective of the Bank’s stable outlook and viability, in spite of the continued headwinds facing the country.

    [IMG]

    In Fitch’s opinion, the banking industry will remain challenging considering low oil prices, slow growth, policy uncertainty and constraints regarding Foreign Exchange liquidity. As such, the industry could be impacted by asset quality deterioration and limited capital buffers, though Fitch expects the sector to remain profitable.

    
The Long-term Issuer Default Ratings (IDR) of Wema Bank remains Stable at (B-), as the rating
    continues to be driven by Wema’s Viability Ratings (VR). Wema Bank does not expect any material change in its intrinsic creditworthiness.

    Wema Bank’s strengths, which underpins its long and short-term ratings, include its strong risk management culture, low Non- Performing Loans (NPL) exposure, satisfactory liquidity levels and its limited exposure to FX related assets and liabilities. The Bank’s affirmed rating further reinforces its resolve to remain a smarter Bank, driven by expertise, excellence and efficiency – the strategic focus of the Bank.

    Segun Oloketuyi, the Managing Director of Wema Bank Plc in his response said “The rating affirms the continued importance we place on risk management and the strengthening of our business models, as we position the Bank to be the major player within Nigeria’s Retail Banking Landscape”.
    I am glad you enjoyed my story. Visit us at www.LailasBlog.com to stay updated with more interesting/exclusive news like these. Click HERE now to do that.
    • GL Legend
    • Guru Member

    uchesam GL Legend

    Member Since:
    Feb 4, 2011
    Message Count:
    733
    Likes Received:
    117
    Current Phone:
    GALAXY S5
    GET 30K WITH 10K WITHIN 24HOURS!!
    24/7 NAIRA SPIN is a place where you help to get rich....100% transparent! Make cool cash by investing

    HOW DOES IT WORK?
    PROVIDE HELP OF 10k AND GET 150%(30K) WITHIN 24HRS... 100% GENUINE...
    PROVIDE HELP WITH THE FORMAT BELOW



    Name/080*******/10k

    HERE IN NAIRA SPIN WE KEEP TO OUR WORD....
    NOTE THAT THE SYSTEM IS ON FIRST COME, FIRST SERVE BASIS....TO JOIN SIMPLY CLICK THE LINK BELOW....

    https://chat.whatsapp.com/9Q7rECre6ImELue6TDrvA2

    PLEASE DON'T PLEDGE IF YOU ARE NOT READY TO MAKE PAYMENT...
    This is 100% working platform for innovative people

    https://chat.whatsapp.com/9Q7rECre6ImELue6TDrvA2

    DO WELL TO SHARE THE LINK WITH FRIENDS TO ENABLE US SERVE YOU BETTER.

Sponsored Links:

Share This Page