[ 2016-07-20 ]

Arnold Parker, Managing Director of afb Ghana

afb Ghana retains Bond Credit Rating
GCR, the credit rating agency has affirmed the
ratings accorded to afb (Ghana) Plc, the financial
services company. The rating which is of BBB has
the outlook accorded as Stable.

afb (Ghana) Plc operates as a non-bank financial
institution providing innovative financial
services products to the public and private sector
salaried workers through its 24 branches
nationwide.

It will be recalled that in 2015, afb Ghana
received approval to raise up to GHS 100 million
in corporate bonds on the GAX. The first tranche
of GHS 30 million was heavily oversubscribed.

A year down the line, it reported improvement in
its profit before tax by 100% as a result of the
listing.

Commenting on the current rating, the Managing
Director of afb Ghana, Arnold Parker said “this
is significant for the company as it reaffirms
investor confidence because the strong rating
reduces the risk in afb bonds.

He added that “the company will continue to pay
attention to its core business in order to end the
year on a good note for shareholders”.

Source - afb Ghana

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