The long-term rating AA- with a stable outlook awarded a year earlier by the Bloomfield agency, was retained by the Société Ivoirienne de Banque (SIB).
This company also retained its A1 short-term rating with a stable outlook. According to the rating agency, the validity of the rating covers the period May 2024-April 2025.
It is the very high credit quality that underlies the long-term rating assigned by Bloomfield. This agency argues that the protective factors are very strong, adding that adverse changes in business, economic or financial conditions will increase investment risks, although not very significantly.
In the short term, the rating team provides SIB’s rating as <> According to this team, the liquidity factors are excellent and supported by good protection factors of the essential elements. Furthermore, she is of the opinion that the risk factors for SIB are minor.
According to Bloomfield, the SIB’s rating is based on the following positive factors: compliance with the regulator’s requirements regarding the increase in minimum share capital, an update of the organization chart for better risk supervision; an overall improvement in performance indicators; an improvement in the quality of the SIB’s debt portfolio in 2023.
On the other hand, the main factors of credit quality fragility are according to Bloomfield: a tightening of monetary policy in the UEMOA zone; a loss of the SIB’s positioning in terms of jobs and resources; a deterioration in the cost of risk.
Oumar Nourou
Canada
