Bank One announces it received a Long-Term Issuer Default Rating (IDR) of ‘BB-‘ with a Stable Outlook from Fitch Ratings
Business

Bank One announces it received a Long-Term Issuer Default Rating (IDR) of ‘BB-‘ with a Stable Outlook from Fitch Ratings

It is with pleasure that Bank One (www.BankOne.mu) announces that Fitch Ratings has assigned it a Long-Term Issuer Default Rating (IDR) of “BB-” with a Stable Outlook for its first rating exercise. Fitch Ratings (London) released the rating on June 27 after carefully examining Bank One in light of the major rating factors.

Customers and investors alike can assess Bank One’s credit standing independently and with confidence thanks to the rating. It is crucial to note that Bank One is currently among the top 15 banks in sub-Saharan Africa according to ratings.

Mark Watkinson, CEO of Bank One, commented to the news by saying: “I am delighted that after working closely with Fitch Ratings over the past months, we have been awarded such a positive rating. The new rating confirms our reputation as a trusted partner for our customers and we look forward to growing our business in Mauritius and the rest of sub-Saharan Africa.

 

About Bank One:

Bank One is a partnership between CIEL Finance Limited in Mauritius and I&M Group PLC in Kenya. Over the past ten years, it has grown to have a clientele of more than 50,000, a committed workforce of more than 425 skilled collaborators, and assets of more than MUR 45 billion.

With 7 locations and a widely dispersed ATM network, Bank One has a geographic footprint that spans the entire island of Mauritius and offers a broad range of banking products and services to its customers. Additionally, it actively supports companies in sub-Saharan Africa.

With the German Investment Corporation (DEG), the International Finance Corporation (IFC), and the French Development Agency, Bank One has strong ties and long-term financial arrangements (Proparco). Fitch Ratings has rated Bank One as “BB-” with a Stable Outlook.

Related posts:

  1. Government has noted Fitch’s decision to affirm South Africa’s long-term foreign and local currency debt ratings at ‘BB-’ and maintain a stable outlookThe government has taken note of Fitch’s decision to maintain a stable outlook and affirm South Africa’s long-term foreign and local currency debt ratings at...
  2. The government takes notice of Fitch’s decision to maintain a stable outlook and affirm South Africa’s long-term foreign and local currency debt ratings at ‘BB-‘.The government takes notice of Fitch’s decision to maintain a stable outlook and affirm South Africa’s long-term foreign and local currency debt ratings at ‘BB-‘....
  3. Ras Al Khaimah’s credit rating affirmed by Fitch at ‘A’, with outlook upgraded from ‘Stable’ to ‘Positive’According to international credit rating agency Fitch, Ras Al Khaimah’s credit rating has been affirmed at ‘A,’ with the outlook changed upwards from ‘Stable’ to...
  4. Gombe Internal Revenue Service seals Access Bank over N118m tax defaultThe Gombe State Internal Revenue Service has sealed Access Bank in the state for tax debts of over I18 million naira from the Personal Income Tax...
  5. Ogun State received a 75 percent employment rating from the National Bureau of StatisticsOgun State received a 75 percent employment rating from the National Bureau of Statistics (NBS). According to Prince Dapo Abiodun, Governor of Ogun State, this...
  6. Oyo Government seals Electricity Distribution Company offices over tax defaultThe Oyo State Government says it has sealed off some offices of the Ibadan Electricity Distribution Company (IBEDC), in Ibadan, over a tax default in...
  7. Allegations of Russia’s default on foreign debt are unfounded, Kremlin’s official spokesman Dmitry Peskov saidAccording to the Kremlin spokesman, Russia made the necessary payment in May. It’s “not our concern,” he stressed, because the money wasn’t delivered to the...
  8. The sale of “vehicle emission defeat devices” by two Michigan companies led the USA to award them a $10 million default judgment and a lifetime injunction.On Aug. 29, the U.S. District Court in the Eastern District of Michigan awarded a default judgment, granting the proposed $10 million civil penalty against...
  9. Mississippi Attorney General Lynn Fitch says state must act in a special way to support women and families as legal abortion is bannedMississippi Attorney General Lynn Fitch stated on Thursday that now that legal abortion is banned in the state, the state must take extraordinary methods to...
  10. Best women’s fall jackets: Lululemon, Old Navy, Abercrombie & FitchAutumn has arrived, bringing with it colder weather. You’ll need a beautiful, warm fall coat if you’re hoping to enjoy the season outdoors. Continue reading...