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First Citizens gets stable credit rating

By - October 23rd 2011 12:22 PM
A customer representative assists a visitor at the First Citizens booth

A customer representative assists a visitor at the First Citizens booth

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Standard & Poor’s affirms FCB’s ratings of ‘BBB+/A-2′ IN a statement, issued by Dexter Charles, manager – group corporate communications, on October 18, First Citizens Bank Limited announced affirmation of its counterparty credit rating of “BBB+/A-2” from Standard & Poor’s on September 29, 2011. This considers First Citizens’ ability to  read more…

Standard & Poor’s affirms FCB’s ratings of ‘BBB+/A-2′

IN a statement, issued by Dexter Charles, manager – group corporate communications, on October 18, First Citizens Bank Limited announced affirmation of its counterparty credit rating of “BBB+/A-2” from Standard & Poor’s on September 29, 2011.

This considers First Citizens’ ability to grow inorganically and to continue to increase its asset base while reducing its client concentrations, the release added.

Standard & Poor’s rating is based on the bank’s leading position in Trinidad and Tobago as well as its stable financial performance, conservative and consistent management track record and diversification initiatives.

The group was commended for its sound asset quality and its capitalisation ratios above the average of rated banks in the rating category.

The outlook of the bank is considered to be stable with maintenance of its asset quality, conservative loan origination policies and consistent profitability.

This rating is reflective of the consistent hard work and commitment exhibited by the bank’s staff in serving customers, according to the release.

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