Fitch rates Bank One ‘BB-‘ with a stable outlook

Fitch Ratings has assigned Mauritius-based Bank One a Long-Term Issuer Default Rating (IDR) of “BB-” with a Stable Outlook for its first rating exercise.

Fitch Ratings (London) released the rating after carefully examining Bank One in light of the major rating factors.

Customers and investors alike can assess Bank One’s credit standing independently and with confidence thanks to the rating. 

Commenting on the announcement, Mark Watkinson, CEO of Bank One said: “I am delighted that after working closely with Fitch Ratings over the past months, we have been awarded such a positive rating. The new rating confirms our reputation as a trusted partner for our customers and we look forward to growing our business in Mauritius and the rest of Sub Saharan Africa.”

Bank One is currently among the top 15 banks in sub-Saharan Africa according to ratings.

Bank One is a partnership between CIEL Finance Limited in Mauritius and I&M Group PLC in Kenya.