Despite the unfavorable market condition and its degrading effect on the global bnaking community international rating agency Moody's confirmed LOCKO-Bank’s bank financial strength rating (BFSR) of E+ which translates into a Baseline Credit Assessment (BCA) of B2 along with LOCKO’s Global Local Currency (GLC) deposit ratings of B2/Not Prime, Stable outlook.

The newly published credit opinion states that the current rating of LOCKO-Bank reflects the strengthening of its market shares supported by a clearly defined market and operational strategy, its established relationships with a number of international financial institutions, its adequate capitalisation level and healthy recurring earnings power. However, the rating is constrained by the Bank's modest franchise value in its target business segment, significant reliance on market funding, material singlename concentration in the Bank's loan portfolio as well as potentially weakening asset quality stemming from the deteriorating economic environment.