Global Credit Rating (GCR) has affirmed Bank Windhoek's credit rating at AA+(NA), with a stable outlook, reflecting confidence in the bank's financial position and ability to meet its obligations. The rating is based on GCR's assessment of Bank Windhoek's audited financial results for the year ended 30 June 2026, its loan book, funding position, industry data, and other information. This rating signals continued trust in the bank's stability and financial health.
GCR also maintained Bank Windhoek'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. The ratings agency cited the bank's established presence in Namibia, strong capitalisation, adequate liquidity, and approach to risk management as key factors supporting its position. Additionally, GCR viewed Bank Windhoek's governance positively, noting its governance framework, strategic execution, and integration of sustainability into its operations.
Bank Windhoek managing director James Chapman attributed the rating to the bank's guiding principles of responsible decisions, sound governance, and commitment to doing what is right for its customers, stakeholders, and Namibia. He emphasised that the credit rating reflects the strength of the foundations on which Bank Windhoek operates and its continued commitment to maintaining high standards of governance, ethics, and responsible banking.
According to GCR, Bank Windhoek 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, serving customers through its branch network and digital channels. This market presence underscores the bank's significant role in Namibia's financial sector.
Bank Windhoek's financial position was supported by strong capital and liquidity levels reported at the end of June. The bank 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 above regulatory requirements. These metrics indicate a robust financial position, enabling the bank to meet its obligations comfortably.
James Chapman highlighted that Bank Windhoek's responsibility extends beyond financial performance to safeguarding trust through sound governance, ethical conduct, prudent risk management, and sustainable business practices. He emphasised the bank's commitment to serving its customers, employees, shareholders, and the broader Namibian economy responsibly. This approach aligns with the bank's long-term strategy and reputation.
GCR noted that Bank Windhoek's risk profile remains manageable, supported by prudent lending practices and governance. The agency emphasised that its ratings represent an independent assessment of the risks and merits of the institution. The stable outlook and affirmed ratings indicate a positive assessment of Bank Windhoek's current and future financial health.
Key points
- Bank Windhoek's credit rating was affirmed at AA+(NA) by Global Credit Rating.
- The bank's strong capitalisation, adequate liquidity, and governance framework supported the rating.
- Bank Windhoek reported a 31.5% share of Namibia's lending market in 2026.
