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| Filename | GCR-Ratings-report-2022-Stanbic-Bank-Zimbabwe-Limited.pdf |
| Filesize | 268.71 KB |
| Version | paid report |
| Date added | July 28, 2022 |
| Downloaded | 2 times |
| Category | Credit Rating Reports, Financial Institution |
| Tags | Zimbabwe |
Stanbic Bank Zimbabwe Limited is incorporated and domiciled in Zimbabwe and provides a wide range of commercial banking and related financial services. Stanbic Zimbabwe’s full-service offering attracts mainly a corporate clientele, supported by an extensive local presence and a strong reputable brand with global links. Stanbic Zimbabwe is also classified as a domestic systemically important bank (“D-SIB”).
The bank is a wholly owned subsidiary of Standard Bank Group Limited (“SBGL”) and is not a material asset or revenue contributor. As a result, the analysis was based on a mixture of the bank’s standalone credit analysis and group support characteristics. Only the inflation adjusted results are audited, and as such, GCR does not use historical figures in its analysis.
The financial results were prepared in accordance with IAS 29 which requires that the financial statements of any entity whose functional currency is the currency of a hyperinflationary economy be stated in terms of the measuring unit current at the reporting date and that corresponding figures for the previous period also be restated in terms of the same measuring unit.
