Fitch affirms Bank of Africa Benin

Fitch Ratings said it affirmed Bank of Africa Benin's ratings at long-term B+ with stable outlook, short-term B, individual D and support 5.

At the same time, the agency said it has affirmed Bank of Africa Niger's ratings at long-term B- with stable outlook, short-term B, individual D/E and support 5.

The long-term, short-term and individual ratings for the banks reflect adequate profitability and liquidity, the agency said.

Fitch added they also take into account some weaknesses such as poor operating environments, significant sovereign exposures to respective Benin and Niger, high concentrations on the asset and liability sides, large proportion of impaired loans by international standards and stretched capital bases.

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