GCR Ratings affirmed Bank Windhoek's long-term Namibian national-scale rating at AA+(NA) and short-term rating at A1+(NA), both with stable outlooks. It also affirmed the lender's South African national-scale long-term rating at A+(ZA). Namibia Economist reported the affirmation on 1 October.
GCR noted that Bank Windhoek remains one of Namibia's leading banking franchises, supported by its long operating history, strong brand recognition and established customer base. The lender is the principal banking subsidiary of Capricorn Group. The bank reported a 31.5% share of the national lending market in 2026.
CAPITAL SUPPORTS THE PROFILE
Bank Windhoek said the ratings were underpinned by its sound capitalisation, adequate liquidity and disciplined approach to risk management. At 30 June 2026 the bank reported a Tier 1 capital ratio of 18.6% and a leverage capital ratio of 12.0%, while its liquidity coverage ratio (216.3%) and net stable funding ratio (123.4%) were comfortably above regulatory requirements.
GCR also viewed the bank's governance profile positively and said its risk profile remained manageable, supported by prudent underwriting and strong governance.
MANAGEMENT VIEW
Managing director James Chapman said: "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 based its review on audited financial results to 30 June 2026, information on the bank's loan book and funding, and industry comparative data.