A Defining Milestone in the Bank’s Transformation Journey
Harare, 13 March 2026...POSB has achieved a major milestone in its transformation journey after receiving an International Credit Rating of BBB with a Stable Outlook from the International Credit Rating Agency (ICRA) recently.
This significant achievement positions POSB among internationally rated financial institutions and affirms the Bank’s stability, resilience, and sound financial management.
What the BBB (Stable) Rating Means
An Issuer Credit Rating of BBB indicates that POSB has a moderate and manageable level of credit risk and a strong capacity to meet its financial obligations. In practical terms, the rating confirms that POSB is a stable and reliable financial institution.
On the international credit rating scale, AAA represents the highest possible rating, followed by AA and A categories. POSB’s placement within the BBB category represents a strong and credible ratings.
Speaking at the official handover of the certificate, POSB Chief Executive Officer, Mr Garainashe Changunda, described the rating as a defining moment for the Bank.
“This rating represents an independent and balanced assessment of our business model, competitive positioning, market environment, and overall financial stability. It affirms our creditworthiness under ICRA’s banking methodology and signals confidence in the strength and resilience of our institution,” he said.
Mr Changunda noted that while the BBB rating represents a strong starting point, the Bank remains committed to continuously improving its performance and strengthening its position in the financial services sector.
Key Strengths Recognised by ICRA
ICRA’s assessment recognised several key strengths underpinning POSB’s rating, including:
- 100% Government ownership through the Mutapa Investment Fund
- Strong capitalisation and capital adequacy levels
- A robust liquidity position
- Stable and high credit quality of the loan book
- POSB’s unique position as Zimbabwe’s sole licensed savings bank
Importantly, POSB operates without interest-bearing debt funding, eliminating repayment pressures and enabling the Bank to reinvest surpluses into innovation and enhanced customer value — a distinct competitive advantage.
POSB Chief Executive Officer, Mr. Garainashe Changunda (Left) receiving the BBB (Stable) rating certificate from the International Credit Rating (ICRA) Zimbabwe CEO, Mr. Ephraim Chaoneka (right).
A Collective Achievement
Mr Changunda noted that the milestone reflects the collective effort of the Bank’s stakeholders.
“This achievement reflects the dedication and commitment of our Board of Directors, Management, employees, regulators, and stakeholders who continue to support the Bank’s growth and transformation,” he said.
Looking Ahead
The Bank remains committed to maintaining strong capital buffers, safeguarding liquidity, preserving asset quality, and executing its strategy with transparency and accountability.
This milestone underscores POSB’s continued transformation and its commitment to providing affordable, accessible, and reliable banking services to the people of Zimbabwe.