Bank Windhoek retains AA+ credit rating

Bank Windhoek’s credit rating has been affirmed at AA+(NA) by Global Credit Rating (GCR), with a stable outlook, signalling continued confidence in the bank’s financial position and ability to meet its obligations.

GCR also maintained the bank’s A1+(NA) short-term issuer rating and affirmed its A+(ZA) long-term issuer rating on the South African national scale, with a stable outlook as well.

The ratings are based on GCR’s assessment of the bank’s audited financial results for the year ended 30 June 2026, its loan book and funding position, industry data and other information.

According to GCR, Bank Windhoek’s position is supported by its established presence in Namibia, strong capitalisation, adequate liquidity and approach to risk management.

The ratings agency also viewed the bank’s governance positively, citing its governance framework, strategic execution and integration of sustainability into its operations.

Bank Windhoek managing director James Chapman says the rating reflects the principles that have guided the bank.

“Trust is built over time through responsible decisions, sound governance and an unwavering commitment to doing what is right for our customers, our stakeholders and Namibia,” Chapman says.

“Our credit rating reflects the strength of the foundations on which Bank Windhoek operates and our continued commitment to maintaining the highest standards of governance, ethics and responsible banking.”

GCR says the bank remains one of Namibia’s leading banking franchises, supported by its long operating history, established customer base, recognised brand and range of financial products.

The bank reported a 31.5% share of Namibia’s lending market in 2026, with customers served through its branch network and digital channels.

Its financial position was also supported by capital and liquidity levels reported at the end of June.

Bank Windhoek had a Tier 1 capital ratio of 18.6% and a leverage capital ratio of 12%. Its liquidity coverage ratio stood at 216.3%, while its net stable funding ratio was 123.4%.

Both liquidity measures were above regulatory requirements.

Chapman says the bank’s responsibility extends beyond its financial performance.

“As a trusted Namibian bank, our responsibility extends beyond financial performance.

“We have a responsibility to safeguard the trust placed in us by our customers, employees, shareholders and the broader Namibian economy through sound governance, ethical conduct, prudent risk management and sustainable business practices,” he says.

GCR says Bank Windhoek’s risk profile remains manageable, supported by prudent lending practices and governance.

The agency says its ratings represent an independent assessment of the risks and merits of the institution.

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