The rating expires on 30 June 2022.
The rating assigned to United Bank for Africa Plc (‘UBA’ or the ‘Bank’) reflects its Pan-African franchise value, which has upheld a good liability generation strategy and a strong ability to refinance across the local and foreign capital markets. The rating also reflects the Bank’s good capitalisation, good liquidity profile and experienced management team. However, the rating is constrained by UBA’s comparably low earnings vis-à-vis operating costs and some degree of obligor concentration in the loan book. Also factored into the rating is the impact of the fragile economic recovery and the harsh regulatory environment on the Bank’s performance.
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