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BIM Achieving the Highest National and
International Credit Rating |
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This is the highest credit rating which BIM has obtained among other
banks as well as financial and credit institutions and insurance
companies.
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Bank of Industry & Mine |
Bank of Industry and Mine (BIM) achieved AA+ rating at the national level
indicating Long Term Financial Strength Rating, Stable Outlook and the rank
A1+ for Short Term Financial Strength Rating in the field of credit
capability.
According to the BIM’s Information Center, Omid Mohammad Rahimnia, the head
of BIM’s Risk Assessment and Control Department stated, “According to the
report issued by Capital Intelligence, an independent acknowledged credit
rating institute, on February 26, 2018 BIM managed to achieve this ranking
in its third year of being evaluated.”
He added, “The bank could also achieve its previous international rating
unchanged from the previous year’s rating and at the highest level of the
country’s ranking indicating financial strength rating BB-, stable outlook
and support score 2. Meanwhile, BIM is the only bank successful in
obtaining such a rating.”
Rahimnia stressed that this success is in line with the strategy for the
development of international interactions, and it aims at achieving the
stated strategies in the fourth Strategic Plan such as improving and
strengthening a comprehensive risk management system, improving performance
transparency and compliance with international banking standards, expanding
the network of international communications and interactions as well as the
status and role of the bank at the level of agents in the country’s economic
development.
The considerable points of the European institute’s recent report worthy to
mention include the availability of assets of the BIM, which is relatively
of higher quality compared to our country’s banking network, suitable
storage of credit risk, managing the key role of BIM development as the only
specialized sector of the Industry Division and thus having 100 percent
government support in dealing with any financial-credit crisis, financing
major infrastructure and infrastructure projects in the country for 30 years
and acceptable financial ratios in the form of a development bank in spite
of the lack of customers’ deposit in high volume compared to commercial
banks.
Rahimnia said, “The advantages of this credit rating include providing the
grounds for attracting capital from external sources at the lowest possible
rate without government guarantees or in other words, facilitating access to
finance in the international capital market, diversification into resources
for attraction tools and resource equipment, reducing unnecessary
commitments and providing fresh resources to fund projects, transparency of
bank performance as well as improving the international credit of the bank
and the banking system of the country.”
It should be noted that credit ratings of banks are important tools that
influence the decision of real and legal stakeholders of banks both in the
national and international arenas in order to facilitate the establishment
of a commercial and financial relationship comfortably. In other words, the
higher rank is considered to increase the competitive ability of the bank to
attract diverse and cheap resources and attract investors in the
international arena.
Factors such as: bank ownership structure, quality and management
capability, systems and control tools used in the process of granting
facilities, business operations and treasury, the business environment in
which the bank operates, the country’s economic situation, the quality of
bank assets, capital adequacy, liquidity and profitability are among the
factors that influence the bank’s rank.
It is worth mentioning that this is the highest credit rating which BIM has
obtained among other banks as well as financial and credit institutions and
insurance companies. |
