An international rating agency, Moody’s, has assigned a B2, stable rating to Sterling Bank Plc for its resilient deposit funding base and stable local currency liquidity.

The rating was also informed by the bank’s improvement on its Information Technology (IT) infrastructure and risk management processes.

The rating agency has also assigned a national scale local currency deposit rating of A1.ng/NG-1 and a Counterparty Risk Assessment (CRA) of B1.

It noted that Sterling Bank’s strength is balanced against Nigeria’s challenging operating environment, which takes into account the strong growth potential of the system, institutional and structural weaknesses and low foreign currency liquidity buffers...

Read more: http://thenationonlineng.net/moodys-affirms-sterling-banks-b2-rating/