Banque du Caire receives the highest credit rating of B+ from CI – official
This is the highest credit rating that the agency grants an Egyptian bank.
Rating agency Capital Intelligence (CI Rating) has affirmed Banque du Caire’s B + rating for its creditworthiness with a stable outlook, said its chairman Tarek Fayed on Sunday.
This is the highest credit rating that the agency grants an Egyptian bank, Fayed further said.
CI’s assessment was based on many of the Banque du Caire’s strengths, particularly the efficiency of its management and diversity of activities, as well as the bank’s success in generating high profit rates and high returns on assets as well as its deposit base that provides sufficient liquidity to counter risks, he explained.
The Egyptian official added that CI report commended the bank’s performance over the past few years, which have enabled it to offer a wide variety of integrated banking products and services while helping to strike a balance between the corporate and individual customer base.
The ranking reflected the bank’s successful development plans and business strategy based on its strong financial position despite the challenges facing the whole world as a result of the coronavirus crisis.
