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26.09.2016 Business & Finance

Fidelity rated 'stable' by Global Credit Rating

By MyJoyOnline
Fidelity rated 'stable' by Global Credit Rating
LISTEN SEP 26, 2016

Fidelity Bank Ghana Limited has been assigned a credit rating of “A-" and "A1-" covering a period of one year and beyond by the Global Credit Rating Co, South Africa.

The rating which is valid until the end of the year also accorded the Bank a stable outlook.

According to the Global Credit Rating Co, the assigned rating reflects the prudent management and resilient financial performance of Fidelity Bank for the year under review.

Fidelity Bank’s rating puts the bank in great stead to strengthen its competitive position in the financial market with strong financial metrics in terms of profitability, asset quality, and capitalization.

In an interview, Managing Director of the Bank Mr. Jim Baiden acknowledged that the rating will increase investor confidence and put the bank in a good position for more growth in the future.

He added that it is also a guarantee to all customers of Fidelity Bank that their investment with the bank is secured. Mr. Baiden further explained that the Bank has worked assiduously through strategic improvement of its business operations in the areas of electronic and agency banking to grow with their customers and shareholders over the last 10 years.

He emphasised that in the coming years the bank will continue to peruse its inclusive banking agenda through its Smart Account and agent points to make world class banking accessible to more Ghanaians.

GCR rates more banks and other financial institutions in Africa than any other rating agency.

Their expertise in this market is widely recognized and highly regarded by investors, as they have an unparalleled track record for rating accuracy in Africa.

Story by Ghana | Myjoyonline.com

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