Moody’s affirms City Bank’s rating at B2 in 2024

Moody’s Investors Service has published their latest Credit Opinion on City Bank, recognising its moderate profitability and capital amid rising asset risks, which are balanced by its stable liquidity and improving deposit franchise, according to a press release.

City Bank has retained its issuer rating of B2 with an updated negative outlook that matches with the country rating Moody’s has recently given to Bangladesh which also reflects its moderate probability of support from the Government of Bangladesh (B2 negative).

Superior strength on Consumer Banking & Credit Card segments as well as strong liquidity and sizeable holdings of government securities are recognized as credit strengths of the bank. However, elevated asset risks due to challenging operating conditions and significant sector concentration along with moderate capitalisation strength have influenced some of the key parameters of the rating, the release said.