ZICB keeps long-term ‘A’ rating and short-term ‘1’ from Premier Rating Services

# What happened Premier Rating Services Ltd (PRS) confirmed Zambia Industrial Commercial Bank's (ZICB) long-term credit rating at 'A' and its short-term rating at '1'. The assessment focused on ZICB's operating and financial results for the period January 2023 through December 2025. PRS updated the rating outlook to March 31, 2026.

# Why the rating matters A credit rating is an independent assessment of an institution's ability to meet its obligations on time and in full. For a bank, that rating affects how investors, depositors and regulators view its stability and creditworthiness. Maintaining an 'A' long-term grade signals investment-grade standing within the local rating scale used by PRS.

# How PRS assessed ZICB PRS used an internationally benchmarked methodology and allocated explicit weights to the main assessment pillars:

• Franchise value and regulatory environment: 20 percent
• Risk positioning: 35 percent
• Financial analysis: 45 percent

That split indicates PRS places the greatest emphasis on the bank's financial results and metrics, then on its risk profile, and finally on market position and the regulatory context.

# What PRS said At a media briefing, PRS Chief Executive Officer Dionysius Makunka described the rating as reflecting the bank's performance, market position and risk profile. In a related report he congratulated the ZICB management for maintaining a strong and stable rating, citing compliance with governance requirements, profitability and asset quality as factors supporting the assessment.

# What this means for ZICB and stakeholders

• For ZICB: Retaining an 'A' rating supports confidence in the bank's ability to meet obligations and can help when raising funds, setting deposit terms, or negotiating with counterparties.
• For investors and depositors: The rating provides an independent measure to compare the bank's creditworthiness against peers.
• For regulators and counterparties: The maintained rating confirms PRS's view that ZICB's financials and risk profile remain within investment-grade parameters for the assessed period.

# Context and timing The covered performance window ends December 2025, and PRS extended the outlook to the end of March 2026. That creates a short forward-looking window in which PRS may reassess if material changes occur. The assessment and the weights PRS used show a heavier reliance on financial analysis, meaning future rating moves will likely hinge most on measurable financial outcomes and asset quality.

# Bottom line PRS's decision to maintain ZICB at long-term 'A' and short-term '1' signals continuity in the rating agency's view of the bank's financial strength, governance and risk management for the period reviewed. The methodology and weightings explain where PRS focused its judgment: financial performance, risk positioning and then franchise/regulatory context.