Banque du Caire receives highest credit rating given to Egyptian bank

The diversified business model and quality of management are main factors in the credit rating

  
A man walks in front of a branch of Banque Du Caire in Cairo, Egypt March 18, 2020.

A man walks in front of a branch of Banque Du Caire in Cairo, Egypt March 18, 2020.

REUTERS/Amr Abdallah Dalsh
Cairo –  Capital Intelligence Ratings (CI Ratings) has affirmed Banque du Caire’s credit rating at B + with a stable outlook, which is the highest credit rating given by the credit rating agency to an Egyptian bank, the Chairman and CEO of Banque du Caire, Tarek Fayed said.

The credit rating agency cited the bank’s diversified business model and quality of management as main factors in its credit rating, Fayed added in a statement on Sunday.

The bank’s rating was also based on its high profitability, ability to maintain an adequate return on average assets (ROAA), broad retail-based deposit funding profile, and adequate buffer of liquid assets.

The rating reflects the bank’s successful development plans and business strategy despite the challenges facing the sector due to the pandemic, he noted.

Source: Mubasher

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