Indo Zam­bia Bank rated “AA” by Credit Rat­ing Agency

Zambian Business Times - - BUSINESS REVIEW -

Indo Zam­bia Bank was rated “AA” by Credit Rat­ing Agency, the only rat­ing agency in Zam­bia. This was on ac­count of the Bank be­ing a sta­ble in­sti­tu­tion and demon­strated re­silience in tur­bu­lent times, Rat­ing Agency Chair­per­son Wil­son Kalumba – also Lusaka Mayor said. Indo Zam­bia was awarded a prime short term rat­ing view with pos­i­tive out­look and was deemed to be in­vest­ment grade on the back of strong cor­po­rate gov­er­nance prin­ci­ples and share­holder sup­port.

“Indo Zam­bia con­tin­ues to re­po­si­tion it­self as a part­ner for eco­nomic growth. The bank as at 30 Sep posted an op­er­at­ing in­come of ZMW127mil­lion and net earn­ings of ZMW72mil­lion. The bank will con­tinue to en­hance its risk man­age­ment frame­work, will re­main ag­ile and adap­tive to the eco­nomic en­vi­ron­ment, Bank Board Chair­per­son Or­lean Moyo said. The bank has been in ex­is­tence for 33 years.

He urged other com­mer­cial banks to em­u­late Indo Zam­bia in hav­ing them­selves credit rated.

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