Fitch Rates Bank One ‘BB-‘ With A Stable Outlook

<h4>Fitch Rates Bank One &&num;8216&semi;BB-&&num;8216&semi; With A Stable Outlook<&sol;h4>&NewLine;<p><strong><a href&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;">OpenLife Nigeria<&sol;a><&sol;strong> reports that Bank One&comma; a joint venture between CIEL Finance Limited in Mauritius and Kenya-based I&amp&semi;M Group PLC&comma; which has built a client base of over 50&comma;000 and a dedicated team of over 425 experienced collaborators with asset base exceeding MUR 45 billion as well as a geographic footprint spread across the island of Mauritius&comma; comprising of 7 branches and a well-distributed ATM network&comma; has announced that it has received a Long-Term Issuer Default Rating &lpar;IDR&rpar; of &&num;8216&semi;BB-&&num;8216&semi; with a Stable Outlook from Fitch Ratings for its first rating exercise&period;<br &sol;>&NewLine;The rating&comma; according to a statement made available to OpenLife by APO Group&comma; was made public by Fitch Ratings in London on 27 June following a thorough evaluation of Bank One based on key rating drivers&period;<br &sol;>&NewLine;The rating provides both investors and customers with an independent and verified view of Bank One’s credit standing&period; It is significant to note that from a ratings perspective&comma; Bank One now ranks among the top 15 banks in sub-Saharan Africa&period; Commenting on the announcement&comma; Mark Watkinson&comma; CEO of Bank One said&colon; &OpenCurlyDoubleQuote;I am delighted that after working closely with Fitch Ratings over the past months&comma; we have been awarded such a positive rating&period; The new rating confirms our reputation as a trusted partner for our customers and we look forward to growing our business in Mauritius and the rest of sub-Saharan Africa&period;&&num;8221&semi;<&sol;p>&NewLine;<p>&nbsp&semi;<&sol;p>&NewLine;<p>&nbsp&semi;<&sol;p>&NewLine;<p>&nbsp&semi;<&sol;p>&NewLine;<p>&nbsp&semi;<&sol;p>&NewLine;