Zambia Industrial Commercial Bank (ZICB) has been awarded an ‘A’ Credit Rating by Premier Rating Services Limited, affirming the Bank’s stability, and financial strength in the market.
The announcement was made during a media briefing hosted by Premier Rating Services Limited at the ZICB Headquarters at KK Mall in Lusaka.
Speaking during the briefing, the Premier Rating Services Chief Executive Officer, Mr. Dionyious Makunka, said the rating was more than just a score, but a reflection of the Bank’s performance, market position and risk profile.
“I would like to first congratulate the ZICB CEO and his team for achieving the ‘A’ rating. The rating is based on several factors, including the Bank’s compliance with governance requirements, profitability and asset quality, and ability to meet both long term & short term obligations,” he said.
He further congratulated ZICB for maintaining a strong and stable rating, noting that the assessment demonstrated the Bank’s satisfactory market performance.
“This was a deep analysis which showed ZICB’s strong earning capability, stability, balance sheet expansion and satisfactory market performance. The Bank’s experienced management and leadership also contributes to its strong and stable risk position, signaling it as a trusted financial partner,” he said.
Speaking at the event, ZICB Chief Executive Officer Mr. Ngenda Nyambe thanked the public for the confidence they have continued to demonstrate in the Bank, citing the growth in deposits and the Bank’s loan book.
“Year on year, our deposits have grown by 49%, while our loan book has also grown significantly. The growth in deposits represents the confidence the public has shown in ZICB, while the growth in our loan book demonstrates our commitment to supporting individuals and businesses with access to finance for personal and business growth,” he said.
The CEO said the Bank’s growth is aligned with its contribution to Zambia’s development agenda and its purpose of “Making Tomorrow Possible.”
