IIRA Reaffirms Fiduciary Ratings assigned to Bank of Khartoum
Islamic International Rating Agency (IIRA) has reaffirmed national scale credit ratings of Bank of Khartoum (BOK) at 'AA-/A-1' (Double A Minus / Single A One). Outlook on the assigned rating is 'Stable'. The fiduciary score has been assessed in the range of '70-75', reflecting adequate fiduciary standards wherein rights of various fund providers are adequately defined and protected. Ratings derive strength from the bank's strong franchise and retail presence in Sudan, with an established history of rapid assets growth since acquisition by the present shareholders and into 2014. The bank maintains sizable liquid reserves, though liquidity management is constrained by systemic concerns.
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