The financial rating agency, Wara, affirms the rating of Coris Bank International (CBI) in investment category with “BBB+” in the long term and “w-3” in the short term.

At the end of its last assessment, dating from August 2020, published on Monday, December 28, the agency notes that the outlook attached to these ratings remains stable.

These good ratings, she points out, confirm the bank's leading position in financing the Burkinabe economy and SMEs in particular.

Wara explained that an improvement in CBI's rating is dependent on several factors, including a significant and sustainable gain in market share in Burkina Faso and a diversification of the business sectors financed. In addition, the agency also listed 3 factors that could cause CBI's rating to deteriorate.

First, there is a deterioration in CBI's results due to an increase in failures in its customer portfolio and/or a lack of control over operating expenses. Secondly, the significant materialization of social or political risk in Burkina Faso which could have a significant impact on the economy.

And finally the deterioration in the concentration of financed counterparties or the absence of sectoral and/or geographic diversification. Born in 2008 from the transformation of "La Financière du Burkina", which was originally a financial institution in difficulty, CBI experienced rapid growth over the period 2008-2018.

In 2019, it posted a total balance sheet of 1,212 billion FCFA (2.2 billion dollars), which places it first out of fifteen banks in Burkina Faso. Majority-owned by the Group's holding company, Coris Holding, CBI went public at the end of 2016, thus becoming the third Burkinabè company listed on the WAMU Regional Stock Exchange (BRVM).