Commercial Banks are classified into one of six groups, namely Below+, Below, Within+, Within, Above+ and Above. A Bank is classified as “Within” if its current APR is equal to or within +-5% of the average APR of the industry. For example, if industry average is 25%, Banks with APRs within 23.5% to 26.25% would be classified as “Within”. Table 1.1 below shows all the classification codes and the basis used.

Classification codes are not meant to rate Banks. They simply tell at a glance the level of APR of a given Bank, i.e. whether the APR is below the current industry average, within the current industry average, or above the current industry average.

Table 1.1: Bank classification codes

No Class Code
Basis of classification
1 Within The Bank’s current APR is within +-5% of the current industry average
2 Within+ The Bank’s current APR and twelve-month average (including the month of reporting) are all within +-5% of the current industry average
3 Below The Bank’s current APR is less than -5% of the current industry average
4 Below+ The Bank’s current APR and twelve-month average (including the month of reporting) are all less than -5% of the current industry average
5 Above

The Bank’s current APR is above +5% of the current industry average

6 Above+ The Bank’s current APR and the twelve-month average (including the current month) are all above +5% of the current industry average

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