17 March 2020
Absa Bank (Mauritius) Limited has been assigned Moody's Baa3 deposit rating on 26 February 2020. Absa Bank (Mauritius) Limited is the first entity, within Absa Group Limited and outside of South Africa, to be independently rated by an external rating agency.
According to Moody’s, the rating reflects Absa Bank (Mauritius) Limited’s strong liquidity buffers, sound capital levels and solid profitability that remains stronger than that of its similarly rated global peers.
“This first-time Baa3 global scale deposit rating (investment grade) is clear testimony of our strength as a bank, of our well defined and executed strategy, as well as of our sound business model. The rating reinforces our position as one of the leading banks in Mauritius, and will support us in our expansion endeavours and in playing an important role in the social and economic development of the country and the region.”, states Ravin Dajee, Managing Director of Absa Bank (Mauritius) Limited.