Credit rating

Agusto & Co. reaffirmed our long-term credit rating at Aa for the financial year ended 2024, and introduced a short-term rating of A1+, reflecting strong liquidity and timely debt servicing capacity. The rating is anchored on the bank’s consistent strong performance, good capitalisation, robust credit risk management, sound liquidity profile, and experienced management team. Despite a challenging macroeconomic environment, the Agency expects the bank’s core metrics and asset quality to remain resilient and consequently attached a Stable outlook to the rating. The Agency also maintained the bank’s Environmental, Social and Governance (ESG) contribution score. The assigned score of ‘2’ implies that the bank’s ESG ‘issues’ have minimal contribution to credit risk.

Global Credit Rating Co. Ltd (GCR) also affirmed our long-term and short-term issuer ratings at AA- and A1+ respectively and revised the outlook from stable to positive. The rating affirmation reflects strong capitalisation, a sound risk management, and adequate funding base and liquidity profile. The Positive outlook reflects the likelihood of a ratings upgrade in the next 12-18 months contingent on the bank maintaining strong capitalisation and stable asset quality, with non-performing loans and credit losses remaining at current levels.