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Moody's assigns ratings to Stanbic Bank Uganda

Moody's assigned Stanbic Bank Uganda Ltd. foreign- and local-currency long- and short-term bank deposit ratings of B3/Not Prime and B1/Not Prime, respectively.

The rating agency assigned a stable outlook on the long-term ratings.

Additionally, the agency assigned the Uganda-based lender "b2" baseline credit assessment, "b1" adjusted baseline credit assessment, Ba3(cr)/NP(cr) long- and short-term counterparty risk assessments, and Ba3/NP long- and short-term counterparty risk ratings.

Moody's said Stanbic Bank Uganda's foreign-currency deposit rating is constrained by the country's B3 foreign-currency deposit rating ceiling, while the bank's local-currency deposit rating is a notch above the sovereign's issuer rating of B2.

The bank's strong domestic franchise supports resilient earnings generating capacity and robust capital buffers, providing a thick loss absorption cushion, according to Moody's. The lender's asset quality metrics are improving but concentration risks remain, while its baseline credit assessment reflects its solid liability profile.

Standard Bank Group Ltd. is the ultimate parent company of Stanbic Bank Uganda.