Nigeria: DataPro confirms Sterling Bank BBB+ Rating

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DataPro, the leading Credit Rating Agency once again confirms BBB+ for 2017-2018 ranking of Sterling Bank over a long period owing to its stability.

BBB+ rating is an indication of Sterling Bank’s financial stability, improved performance and a strong outlook. The rating suggests that Sterling Bank is capable of meeting its liabilities and is adaptable to the economic changes.

Before affirming the rating, DataPro committee reviewed various aspects including capitalization, assets, earnings, current financial strength and liquidity in the recent months.

Sterling Bank’s stable management and brand also helped its rating. Another important factor which was considered while rating was the capital adequacy of Sterling bank which was 11%, just above the 10% bar set as the regulatory requirement.

An A2 rating for a short term has also been awarded to Sterling Bank. It signifies the timely payments made by the bank in order to stay true to its commitments.

The rating holds true for the coming 12 months and these ratings do not invite investments or trade but they are only taken as a reference not for the final judgement.

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