DataPro, the Technology-Driven Credit Rating Agency, assigned Sterling Bank Plc a long-term rating of “BBB+” with a Positive Outlook for the year 2021/2022.
The “BBB+” rating denotes Slight Risk, according to a statement made over the weekend by DataPro’s Client Service Manager, Kehinde Rasheed, who also added that when compared to the standard set by DataPro Limited, the rating demonstrates fair financial strength, operating performance, and business profile.
We believe that Sterling Bank Plc has the capacity to satisfy its ongoing obligations, but that its financial stability is susceptible to unfavorable developments in the economic environment. “The Bank was successful in expanding its Earnings capability and Profitability during the year under review.
The declaration read, “In the short term, Sterling Bank Plc has a rating of “A2” which indicates Fair Credit Quality and adequate capacity for timely payment of financial commitments.