GCR raises Fidelity Bank rating, citing stronger capital position
GCR has upgraded Fidelity Bank’s rating, with the bank’s stronger capital position supporting the decision. The rating agency also identified the lender’s large and stable deposit base as a positive feature of its funding profile, according to the supplied report.
GCR has upgraded its rating of Fidelity Bank, with the decision linked to the lender’s stronger capital position. The supplied report gives no details of the previous rating, the new rating or the date on which the upgrade was announced. It identifies the bank’s capital position as the main factor highlighted in the headline.
GCR also assessed Fidelity Bank’s funding profile as positive. According to the material, that view is supported by the bank’s large and stable deposit base. The deposit base was presented as an important source of support for the bank’s funding position.
The source material does not provide additional information about the bank’s financial results, asset quality or outlook. No comment from Fidelity Bank is included in the supplied material. The report’s available information therefore establishes the rating upgrade and the two factors cited in connection with it: stronger capital and a large, stable deposit base.
This independently written report is based on information supplied by the named publisher. Vertrix News has not independently verified the source report.