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Finance: Ecobank Côte d'Ivoire rating

17/09/2024
Source : ORISHAS-FINANCE
Categories: Economy/Forex

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La Société d' investissement Bloomfield Noted Ecobank Côte d' Ivoire à AA AA- Long Term and A1 A1 Short-term with a stable outlook.

EcoBank Côte d'Ivoire is a public limited company with a Board of Directors, created in October 1988. It was approved as a bank by decree No. 66 of 16 March 1989 and is registered on the list of banks of the UMOA under the number A 0059 J. The financial institution is also registered in the Trade and Furniture Credit Register (RCCM), under the

number CI-ABJ-1988-B-130 729.

La notation à long terme reflète harmful changes in business, economic or financial conditions will increase investment risks although in a very insignificant way. In the short term, the rating reflects the very high certainty of timely repayment. The liquidity factors are excellent and supported by good protective factors for essential elements. Risk factors are minor.

The rating is based on positive factors such as “a good execution of the “Succeed Together” Strategic Plan, over the period 2019-2023; a strengthening of the positioning on the Ivorian banking market in connection with the growth of activities with the customers; satisfactory financial and commercial performances; efforts to diversify the bank's activities; an improving concentration ratio of the 50 largest commitments; one of the quality of the portfolio, allowing control of the cost of risk”.

The main factors contributing to the fragility of credit quality include “a strengthening of monetary policy in the UMOA zone, due to rising inflation; a stable but fragile socio-political climate”.

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