Representatives from an Isle of Man-based bank says its new ratings underline its status as a safe and trusted service.

S&P Global Ratings has assigned a credit quality rating of ‘AAAf’ and a volatility rating of ‘S1+’ to three of Capital International Bank’s Excess Fiduciary Accounts (EFA).

The ‘AAAf’ rating signifies the extremely strong protection the underlying holding within the EFA provides against losses from credit defaults. The ‘S1+’ volatility rating in turn recognises the pool of assets demonstrate extremely low sensitivity to changing market conditions.

Finance director Paul Atherton said: ‘This “AAAf” rating by S&P Global is a significant milestone for Capital International Bank’s Excess Fiduciary Account. These accounts have proven popular with our clients and provide a competitive net return in sterling, euros and U.S. dollars and also offer same-day liquidity access.

‘The rating reflects the strong compliance framework and treasury management of the EFA here at Capital International Bank.’

Capital International Bank is a wholly owned subsidiary of Capital International Group Ltd which has approximately $4 billion in assets under its administration.

S&P Global believes the EFAs are conservatively managed by a suitably experienced cash and treasury management team at Capital International Bank supported by a risk management and compliance team to oversee banking and treasury operations.

Managing director Werner Alberts said: ‘We are thrilled to receive this rating for our EFA. This recognition reinforces our dedication to providing innovative, secure and trusted banking services.

‘For our customers, it means peace of mind knowing their EFA deposits are backed by one of the strongest credit ratings in the industry. We are a bank committed to providing unparalleled trust and value, this credit rating reflects that commitment and sets the stage for our next phase of growth in 2025 and beyond.’

Capital International Bank holds a Class 1(2) banking licence in the Isle of Man, focusing largely on corporates and trusts.

The Group employs over 200 staff in the Isle of Man and is based at Capital House in Douglas