Agusto & Co. upgrades Jaiz Bank’s credit rating to A- with stable outlook

Leading rating agency, Agusto & Co. Limited, has upgraded the credit ratings of Jaiz Bank Plc to A- for long-term obligations and A1 for short-term obligations, both with a stable outlook, citing the bank’s strong financial performance and robust governance structure.

In addition, the agency assigned Jaiz Bank an Environmental, Social, and Governance (ESG) score of “2”, reflecting the institution’s strong sustainability performance and commitment to responsible banking practices.

In a statement, Jaiz Bank said the rating upgrade highlights its solid financial fundamentals, effective risk management framework, and consistent execution of its strategic growth and digital transformation agenda.

“This 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. It underscores the Bank’s resilience, capital adequacy, and commitment to ethical, sustainable banking that supports Nigeria’s economic development,” the bank stated.

Jaiz Bank noted that the improved rating further strengthens confidence among regulators, investors, and customers in its leadership and long-term strategic direction.

Commenting on the development, the Managing Director and Chief Executive Officer of Jaiz Bank Plc, Dr. Haruna Musa, described the upgrade as a validation of the bank’s steady progress and operational excellence.

“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,” Musa said. 

“We remain committed to continuous improvement, operational excellence, and delivering long-term value to all stakeholders.”

He expressed appreciation to the bank’s stakeholders, adding that the milestone was achieved through collective effort. 

“We thank our customers, regulators, shareholders, employees, and partners for their unwavering support in driving the Bank’s success story,” he said.

Jaiz Bank Plc, Nigeria’s pioneer non-interest financial institution, has continued to post steady growth since its inception, maintaining a focus on ethical finance, sustainable banking, and innovation-driven service delivery.