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A International Rating for Bank Constanta

Published: November 9, 2011 | 2:44 pm
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The COMMERCIAL TIMES

November 8- Bank Constanta improved its international rating from A- to A. M-CRIL (Micro–Credit Ratings International) has granted A international rating to the bank for year 2011. The decision was made after thorough analysis of Bank Constanta’s past and current activities as well as future prospects.

According to the M-CRIL’s conclusion, Bank Constanta is a well-developed institution with a professional and experienced board, management and staff. During 2010 the bank managed to grow rapidly and reported profit by the first quarter of the recent 2011 year. Bank Constanta has a significantly low rate of credit portfolio risk, which constitutes the strong internal audit and control systems. “On an account of a portfolio quality, Constanta can absorb loan funds from commercial sources for on-lending” – the report states.

M-CRIL is a global leader in the financial rating of microfinance institutions and in sectoral advisory services, which aims to have a stimulated sector growth and depth of outreach and impact of initiatives for financial inclusion on a worldwide basis. Started in 1998, M-CRIL came into being in response to the need for an agency that would bring about a standardized assessment of financial performance and highlight the importance of governance and management in running sustainable business models of MFIs. M-CRIL since its inception has played a pivotal role in the provision of financial services to the poor.

The first M-CRIL Rating assigned to Bank Constanta was B+ in 2008, which was constantly improving over the years and by now upgraded to A rating.

 

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