CR upgrades Nedbank Zimbabwe’s credit rating

The group recently invested in artificial intelligence, automation and digital banking under its Intelligent Hyper Automation strategy generating more than R375 million in annualised value.

GCR Ratings (GCR), a member of Moody’s Rating Agency, has upgraded Nedbank Zimbabwe’s national scale long-term issuer rating to A+ (ZW) from A (ZW), with a stable outlook. Accordingly, the bank’s shortterm national scale issuer rating has been affirmed at A1 (ZW). “The ratings upgrade reflect the increase in competitiveness score for Nedbank Zimbabwe relative…

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