FHA Mortgage Bank gets ‘BBB’ rating from Datapro


By Tunde Oso

The “BBB” indicates slight risk. It shows fair financial strength, operating performance and business profile when compared to the standard established by DataPro.

DataPro has assigned FHA Mortgage Bank Limited a long-term rating of “BBB” with a stable outlook for the year 2021/2022.

“This company,” the report said, “in our opinion, has the ability to meet its ongoing obligations, but its financial strength is vulnerable to adverse changes in economic conditions.”

The DataPro rating committee approved the rating after an assessment of the company’s financial performance, capital adequacy, asset quality, liquidity, profitability, corporate governance & risk management as well as risk factors of its current healthy profile in the medium to long-term period.

“The bank generated earnings from interest and non-interest sources, which contributed 38% growth in gross earnings during the year 2020. The bank’s operating expenses also grew…

Source: Vanguard Newspaper