AFRICAN BANK LIMITED - ABKI - National & Global Credit Rating of African Bank Reaffirmed by S&P Global Ratings, with an Outlook Improvement

ABKI - National & Global Credit Rating of African Bank Reaffirmed by S&P Global Ratings, with an Outlook Improvement

AFRICAN BANK LIMITED
(Incorporated in the Republic of South Africa)
(Registered Bank)
(Registration No. 2014/176899/06)
LEI: 2549008X8SL1B1J86F98
Company code: ABKI
(“African Bank” or the “Bank”)

NATIONAL AND GLOBAL CREDIT RATING OF AFRICAN BANK REAFFIRMED BY S&P GLOBAL
RATINGS, WITH AN OUTLOOK IMPROVEMENT FROM STABLE TO POSITIVE

S&P Global Ratings (“S&P”) have, on 25 July 2023, affirmed the African Bank global long- and
short-term issuer credit rating at ‘B’. S&P have also affirmed the ‘zaA-/zaA-2’ long-term and
short-term South African national scale ratings for African Bank, respectively. The outlook was
revised to positive from stable.

S&P noted that the positive outlook reflects the prospects that the Bank’s franchise and funding
profile will strengthen while it sustains strong capitalization and improves or maintains asset
quality indicators.

27 July 2023

Debt Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 27-07-2023 04:00:00
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