ANGOP - Angola Press News AgencyANGOP - Angola Press News Agency

Go to homepage
Luanda

Max:

Min:

Home » News » Economy

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.

Send by email

To share this news by email, fill out the information below and click Send

Correct

To report errors in the texts of articles published, fill out the information below and click Send

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%.

Tags Economy  

Read also
  • 31/01/2019 17:55:18

    Governor guarantees support for agricultural development

    Saurimo - The provincial governor of Lunda Sul, Daniel Félix Neto, assured Thursday in Saurimo, to support peasants with agricultural instruments and seeds, as part of the Government's strategy to combat hunger and poverty.

  • 31/01/2019 10:43:25

    Angola and Namibia study model of Baynes dam construction

    Malanje - Angola and Namibia on Wednesday discussed technical, economic and environmental requirements for the construction of the Baynes Binational hydroelectric dam in the border region of both countries.

  • 30/01/2019 11:42:40

    Biocom to increase sugar output

    Luanda - The Bio-energy company of Angola (BIOCOM) expects to increase its sugar production this year, from the prior 73,000 produced in 2018 to 100,000 tonnes in 2019, said the firm’s assistant manager, Luis Júnior.

  • 30/01/2019 09:01:30

    Sonangol exports over 92,200 metric tonnes of crude-oil in last quarter of 2018

    Luanda - The state-owned National Fuel Society (Sonangol) exported in the last quarter of last year 92,211 metric tonnes of crude-oil, which yielded a revenue of just over 39.5 million dollars, announced on Tuesday the company’s Executive Commission head for international trade, Luís Manuel.