The outlook backed by BOA Benin's "A+" long-term credit rating has changed from "stable" to "positive" at the end of the latest assessment by the rating agency Bloomfield Investment. However, the outlook attached to the "A1" short-term rating remains "stable".

Valid for the period from May 2021 to April 2022, this new assessment reinforces the financial performance of BOA Benin, which saw its profit increase by 5% to XAF4.36 billion in the first quarter of 2021. Bloomfield Investment indicated that the credit rating was supported by positive factors such as "maintenance of the bank's leading position in the market, the good orientation of performance indicators despite the context of the health crisis linked to Covid-19 and the good control of liquidity risk".

The rating agency also notes that a deterioration in BOA Benin's credit quality would be due to the slower pace of credit activities, the decline in net income, under the effect of a significant increase in the cost risk and an operating ratio. At the end of 2020, in connection with the Covid-19 crisis, BOA Benin recorded a fall of 11.3% to 13.3 billion FCFA in its net income, weighed down by a cost of risk which increased by 95% .