Jaiz Bank’s Credit Rating Upgraded to A- by Agusto & Co.
By Patience Ikpeme
Nigeria’s foremost credit rating agency, Agusto & Co. Limited, has upgraded Jaiz Bank Plc’s credit ratings to A- (long-term) and A1 (short-term), both with a Stable Outlook. The Bank was also assigned an ESG score of “2.”
A statement released by the Bank on Friday explained that the upgrade reflects Jaiz Bank’s strong financial fundamentals, sound risk management framework, effective governance practices, and consistent execution of its strategic growth and digital transformation agenda.
The Bank noted that the improved rating confirms the confidence of regulators, investors, and customers in its leadership and strategic direction, particularly as the Bank continues to expand its non-interest banking footprint, deepen financial inclusion, and deliver innovative digital solutions to its growing customer base. The rating indicates the Bank’s resilience, capital adequacy, and commitment to ethical, sustainable banking that supports Nigeria’s economic development.
Commenting on the development, Dr. Haruna Musa, Managing Director/CEO of Jaiz Bank Plc, expressed satisfaction with the independent validation of the Bank’s performance.
“We are delighted by Agusto & Co.’s recognition of Jaiz Bank’s progress and stability. This upgrade validates our ongoing efforts to build a resilient institution anchored on trust, performance, and innovation,” Dr. Musa stated.
He added: “We remain committed to continuous improvement, operational excellence, and delivering long-term value to all stakeholders.”
Jaiz Bank offered gratitude to its customers, regulators, shareholders, employees, and partners for their unwavering support in driving the Bank’s success story. The new rating places Jaiz Bank among institutions deemed to have strong capacity to meet their obligations.
