Sterling Bank Nigeria Plc has been reaffirmed strong, formidable and positioned to meet its payment obligations by DataPro rating agency.
Datapro limited is one of Nigeria’s lading credit rating agencies (CRA). The reaffirmation of BB rating for the bank is for the year 2016/2017.
The BB rating indicates that the bank has a fair of financial strength, operating performance and business profile when compared to the established standards. It further indicate that the bank has the ability to meet its ongoing obligations subject to adverse changes in economic conditions.
The DataPro rating committee approved the rating after a review of the bank’s capitalization, earnings profile. Liquidity, quality of assets and sustainability of its current healthy profile in the medium to long term period.
The rating is supported by the bank’s stable management and good liquidity ratio. The liquidity ratio of the bank at 44 per cent in the year 2015 was well above the regulatory requirement. The rating also took cognizance of the ongoing N65 billion capital raising programme of the bank.
Sterling bank, subsequently got a short term rating of A2, reflecting the bank’s capacity for timely payment of financial commitments. In line with international best practices, the rating carries maximum shelve f 12 months.