Fitch rates Bank One ‘BB-‘ with stable outlook

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Bank One (www.BankOne.mu) is pleased to announce that it has received a Long-Term Issuer Default (IDR) Rating of ‘BB-‘ with a Stable Outlook from Fitch Ratings for its first rating exercise . The rating was released by Fitch Ratings (London) on June 27 following an in-depth assessment by Bank One based on key rating factors.

The rating provides investors and customers with an independent and verified view of Bank One’s creditworthiness. Importantly, from a ratings perspective, Bank One now ranks among the top 15 banks in Sub-Saharan Africa. Commenting on the announcement, Mark Watkinson, CEO of Bank One, said: “I am delighted that after working closely with Fitch Ratings over the past few months, we have achieved such a positive rating. The new rating confirms our reputation as a trusted partner for our clients and we look forward to expanding our business in Mauritius and the rest of Sub-Saharan Africa..”

Distributed by APO Group on behalf of Bank One Limited.

Media Contact:
Ali Mamode, Marketing & Communications Manager
Tel: +230 202 9247, +230 5713 5924
E-mail: [email protected]

Virginie Couronne, communications specialist
Tel: +230 202 9512, +230 5258 2926
E-mail: [email protected]

About Bank One:
Bank One is a joint venture between CIEL Finance Limited in Mauritius and I&M Group PLC based in Kenya. Over the past decade, it has built a customer base of over 50,000, a dedicated team of over 425 experienced staff and an asset base exceeding MUR 45 billion. Bank One offers a wide range of banking products and services to its customers through a geographical footprint spread across Mauritius, comprising 7 branches and a well-distributed network of ATMs. It also plays an active role in supporting businesses in sub-Saharan Africa. Bank One maintains close relationships with development finance institutions and long-term finance lines with the German Investment Corporation (DEG), the International Finance Corporation (IFC) and the French Development Agency (Proparco). Bank One has been rated “BB-” with a stable outlook by Fitch Ratings.

This press release was issued by APO. Content is not vetted by the African Business editorial team and none of the content has been verified or validated by our editorial teams, proofreaders or fact checkers. The issuer is solely responsible for the content of this announcement.

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