Global Credit Ratings raises Fidelity Bank’s rating to A+
Global Credit Ratings (GCR), an international rating agency, has upgraded Fidelity Bank Limited’s National Long-Term Issuer Rating from A to A+ and affirmed the Bank’s Short-Term Issuer Ratings of A1 with a stable outlook.
GCR lists Fidelity Bank’s strong national franchise, good distribution network and local geographic diversification, stable funding structure and good levels of liquidity as factors underpinning the ratings. The agency added that “the ratings also take into account strong capitalization supported by strong internal capital generation…”
According to GCR, Fidelity Bank Limited is adequately capitalized with an expected capital ratio of 25% over the next 12-18 months. The agency also said ratings could improve if the bank further diversifies its revenue sources and maintains an internal capital generation rate above 30%.
Commenting on the upgraded ratings from GCR, Managing Director of Fidelity Bank Ghana, Julian Opuni said, “Recognition and upgrading from a reputable international agency speaks volumes about Fidelity Bank’s commitment to building a culture of good governance and an effective risk culture for the benefit of all our stakeholders. It also represents the result of the loyalty and hard work of our staff over the years as well as the trust our customers place in us. “Fidelity Bank is grateful to everyone who continues to support the Bank to achieve great feats like this. It is also our promise to consolidate our gains to ensure that Fidelity Bank continues to position itself as one of the leading financial institutions in Ghana that continues to create value for all its stakeholders,” Mr. Opuni added.
About Fidelity Bank Ghana
In just over a decade, Fidelity Bank Ghana has grown from a discount house to a Tier 1 bank and is now the largest private Ghanaian bank. The bank serves its approximately 2 million customers in 75 branches across Ghana and is a leader in the digital banking space. The bank has two subsidiaries, Fidelity Asia Bank Limited, which is a wholly owned subsidiary in Malaysia and Fidelity Securities Limited, an asset management company. In a short time, Fidelity Bank has become a household name in Ghana by embracing a customer-centric culture and consistently delivering on its promise to make a difference in the lives of all stakeholders.
Fidelity Bank Ghana Limited – Head Office
Ridge Towers-Cruickshank Road, Accra
Telephone: 030 221 4490