Thu, 06 Dec 2018 18:46 - Updated Thu, 06 Dec 2018 19:21
Moodys awards B3 mark to BFA
Luanda - Moody's Bank received B3 mark in November 27 in local currency, becoming the third Angolan financial institution, after Banco BAI and Banco Económico to receive the same rating from this international rating agency.
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The agency also assigned a Caa1 rating to foreign currency deposits. Both marks are identical to the "ceiling" of Angola notation in these components, also B3 and Caa1.
The agency also refers to the strengths of BFA's balance sheet, the resilient ability to generate above-average returns, with the ratio of results to tangible assets well above the peers (4.8% in 2017, compared to the average of 1, 8% of Angolan banks, and with the average of 1.1% of the remaining banks rated B3).
Robust capital buffers, which, in conjunction with the previous point provides a significant cushion to withstand potential loan losses.
It also contributed, according to Moody's assessment, the TCE (tangible common equity) ratio for RWA (risk-weighted assets) - a solvency ratio1 - to 18.8%, well above the median of other banks that is 11.2%.
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