The Bloomfield Investment Corporation agency has once again awarded a long-term "A" rating with a stable outlook to Bank Of Africa (BOA) Côte d'Ivoire, a subsidiary of the banking group of the same name, announced the leaders of this rating structure based in Abidjan.

The short-term rating is also maintained at A2 with a stable outlook.

The validity of this financial rating is from June 2019 to May 2020.

The rating and the long-term outlook is Justified by Bloomfield by the high credit quality. “The protective factors are good. However, the risk factors are more variable and greater in times of economic pressure,” Bloomfield officials suggested.

Regarding the short-term rating, it is justified by the very high certainty of timely repayment. According to rating agency officials, liquidity factors are strong and supported by good core protection factors. As for the risk factors, they are considered minor.

In terms of key performance factors, Bloomfield argues that its rating is based on a number of positive factors. They mention "a good evolution of the income from commissions, an improvement in the cost of risk, in connection with the provisioning rules of the Regional Banking Chart of Accounts (PCBR), a drop in the concentration of the portfolio and compliance with the new prudential rules ".

On the other hand, Bloomfield has listed the main rating fragility factors. According to the leaders of Bloomfield, the ability of management to achieve its strategic objectives is to be demonstrated. Also included in the fragility factors are the overall decline in positioning and market share, the bank's poor performance in terms of collecting resources and granting loans, the contraction of the interest margin, in connection with the placement activity, the increase in the cost/income ratio attributable to the new branches, not to mention the fragile political and security situation in Côte d'Ivoire.