CBH announces S&P rating of BBB/A-2
CBH Group is pleased to announce that S&P Global Ratings (S&P) has assigned it a ‘BBB/A-2’ long- and short-term credit rating, with a stable outlook.
In assigning this credit rating, S&P referenced the Bank’s very strong capitalization, geographic diversification of its clientele, as well as steady growth over the past decade fueled by organic and acquisitive growth.
The stable outlook reflects S&P’s expectation that “CBH will deliver resilient profitability in 2023-2024, supported by the higher interest rate environment, and that it will develop its private banking franchise in Switzerland, maintaining demonstrably high level capitalization and risk management that keeps pace with changes in business”.
“We are very pleased with this rating, which recognizes the quality of our institution and the unique attributes of our business model, by the industry and in comparison to our peers.” says CEO Philippe Cordonier “This rating demonstrates our resilience in a complex regulatory environment, as well as challenging and volatile market conditions”.