Zimbabwean bank gets 1st rating

A Zimbabwe-based financial services company has been assigned first-time national scale long-term and short-term issuer ratings, by a rating agency.

ZB Bank has received a national scale long-term issuer rating of BBB+(ZW) and a national scale short-term issuer rating of A2(ZW), with an evolving outlook.

The company’s rating reflects the bank’s moderately weak market position and franchise strength but with good levels of business diversification.

ZB Bank’s evolving outlook reflects the volatile operating environment, monetary policy, exacerbated by hyperinflation creating high likelihood of frequent change on the financial profiles of financial institutions operating therein.

See full issuer profile here