Moody’s Investors Service has published their latest Credit Opinion on The City Bank Limited, recognizing both potential & challenges of the bank, said a statement.
City Bank retained its issuer rating of B1 with a negative outlook from last year, demonstrating its moderate profitability driven by maintaining the Net Interest Margin intact, its heightened asset risk due to disruptions caused by the Coronavirus outbreak and its capitalization that is under pressure compared to the previous years.
Superior strength on Consumer Banking & Credit Card segments and access to development funds from development financiers are recognized as credit strengths of the bank. However, the impact of the global Coronavirus outbreak has taken a toll on all the key parameters of the rating and the outlook of the entire system is depending heavily on how well this pandemic is dealt with and warded off.
"City Bank thanks its customers, shareholders, employees, regulators and well-wishers for their support in this difficult time," the statement added.