Debt investor information
Credit ratings
The most recent rating received from S&P Global Ratings (S&P) for African Bank Limited was that of 25 July 2023. The global long- and short-term issuer credit rating was retained at a ‘B’, with the outlook improving from “stable” to “positive”. S&P have also affirmed the ‘zaA-/ zaA-2’ long-term and short-term South African national scale ratings for African Bank, respectively.
On 4 October 2023 Moody’s Investors Service (Moody’s) issued its inaugural rating. It assigned African Bank Limited with a long- and-short- term local and foreign currency deposit ratings of ‘B1/NP’, with a stable outlook assigned to the long-term deposit rating. Moody’s also assigned a long-and-short-term national scale bank deposits rating of ‘A3.za/P-2.za’.
Funding overview
The African Bank Group has three listed Domestic Medium-Term Note (DMTN) Programmes which are:
- The African Bank Limited DMTN programme,
- The African Bank Holdings Limited programme, and
- The Grindrod Bank Limited DMTN programme (see the Grindrod Bank website for details of this programme)
In addition to wholesale funding raised by means of the DMTN programmes listed on the JSE, bilateral deposits are raised from South African corporate asset managers on a one-on-one basis. This funding is subject to certain general and product specific terms and conditions. These terms and conditions are detailed in this section below.”
- Separate instructions will follow with regard to RDS’s results announcement for December’23 sometime, and updates to the Face Values on that element of the website.
African Bank Limited (ABL)
ABL Debt Programmes and Information Statements
African Bank Limited Applicable Pricing Supplements (APS)
African Bank Limited Terms and Conditions for Corporate Instruments
African Bank Holding Limited (ABHL)
ABHL Programme and Information Statements
ABHL Applicable Pricing Supplements
APS Documents
Archives
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13 Mar 2019DMTN Pro Forma Financial Information of African Bank Limited and Reporting Accountants Report
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05 Nov 2018DMTN Pro Forma Financial information of African Bank Limited and Reporting Accountants report