FNB Zambia Upgraded to AA- Credit Rating

First National Bank (FNB) Zambia has been awarded an upgraded AA- credit rating by Premier Ratings Services (PRS) Limited, moving up from its previous A+ rating received in 2023. PRS described the new rating as “very strong” and reflective of the bank’s solid financial standing.

PRS is a licensed credit rating agency under the Securities and Exchange Commission (SEC) of Zambia. It offers rating services for corporate entities, municipalities, debt instruments, and development projects, while also advising on mergers and acquisitions, investment decisions, risk management, research, and training.

Speaking on the newly upgraded rating, FNB Zambia Chief Executive Officer, Ms Kapumpe Chola, said it demonstrates confidence in the bank’s financial performance and governance.

“We are pleased to note that our credit rating has been upgraded to AA- from A+ in 2023, a reflection of the Bank’s strong financial performance, prudent risk management, and the trust our customers and stakeholders place in us. The achievement highlights the resilience of our business model, our disciplined execution of strategy, and our commitment to sustainable growth. We remain confident in our ability to continue creating value for shareholders, clients and communities through our Shared Prosperity philosophy.”

FNB Zambia Chief Financial Officer, Mr Kampamba Mulenga, added that the rating reinforces the bank’s capacity to support customers effectively. “The AA- rating highlights the Bank’s financial strength and resilience, reinforcing our ability to serve clients with confidence and support their growth alongside ours.”