Agusto & Co. Upgrades Jaiz Bank’s Credit Rating to A– (Stable)
Jaiz Bank Plc, Nigeria’s pioneer non-interest financial institution, has received an upgrade in its credit rating from Agusto & Co. Limited, the country’s foremost credit rating agency.
In its latest report, Agusto & Co. upgraded Jaiz Bank’s long-term rating to A– and short-term rating to A1, both with a Stable Outlook, while also assigning the Bank an Environmental, Social, and Governance (ESG) score of “2.”
According to the rating agency, the upgrade reflects Jaiz Bank’s strong financial fundamentals, robust risk management framework, effective governance structure, and consistent execution of its strategic growth and digital transformation agenda. The report also highlights the Bank’s capital adequacy, operational resilience, and commitment to ethical and sustainable banking practices that contribute to Nigeria’s economic growth.
The improved rating, the statement noted, reaffirms the confidence of regulators, investors, and customers in Jaiz Bank’s leadership and strategic direction, particularly as the Bank continues to expand its non-interest banking footprint, deepen financial inclusion, and deliver innovative digital services across the country.
Speaking on the development, Managing Director and Chief Executive Officer of Jaiz Bank, Dr. Haruna Musa, described the upgrade as a validation of the Bank’s progress and stability.
“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,” he said.
“We remain committed to continuous improvement, operational excellence, and delivering long-term value to all stakeholders.”
Dr. Musa also expressed appreciation to the Bank’s customers, regulators, shareholders, employees, and partners for their unwavering support in driving Jaiz Bank’s success and sustainability.
