BusinessDay

DataPro affirms Guaranty Trust Bank Limited “AA+” rating

DataPro, the technology-driven Credit Rating Agency (CRA) has in its latest report affirmed Guaranty Trust Bank Limited long-term rating of “AA+” with a positive outlook for the year 2021/2022. Guaranty Trust Bank Limited is a subsidiary of Guaranty Trust Holding Company Plc also known as GTCO Plc.

The “AA+” indicates lower risk. It shows excellent financial strength, operating performance and profile when compared to the standards established by DataPro.

In DataPro opinion, the bank has a very strong ability to meet its ongoing obligation.

Read also: Infinity MFB Limited receives “BBB” rating from Datapro

The DataPro rating committee approved the rating after assessment of the company’s financial performance, capital adequacy, asset quality, liquidity, profitability, governance, risk & compliance, risk factors and future outlook of its current healthy profile in the medium to long-term period.

The rating of Guaranty Trust Bank Limited is supported by its diversified revenue base, experienced management, strong capitalisation and brand presence.

Guaranty Trust Bank Limited had a short-term rating of “A1+” which indicates highest credit quality and strongest capacity for timely payment of financial commitments.

DataPro notes that the rating carries a maximum shelf life of 12 calendar months, in line with International Best Practice. The Rating is therefore not an offer to trade in securities, nor a substitute for the user’s judgment. It is meant for reference purposes.

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