Access Bank Plc’s rating has been raised from “A+” to “Aa-” by foremost Nigerian rating agency, Agusto & Co.
The upgrade reflected Access Bank’s strong financial profile, resilient profitability levels, and solid capital position, a statement from the bank said at the weekend.
Agusto & Co. also recognised Access Bank as an institution of a very good financial condition and strong capacity to meet its obligations.
The rating was further supported by the bank’s strong domestic presence, supported by an extensive branch network, good liquidity profile as well as experience and skills of its management team.
Speaking on the new rating, Group Managing Director/CEO, Access Bank, Herbert Wigwe, said: “The rating only goes to confirm our consistency over the years in delivering superior value to our stakeholders, in line with our vision to be the world’s most respected African bank.
“The upgrade in the bank’s outlook reflects our commitment to the core values of innovation, professionalism and devotion to excellence in our operations and service delivery.”
The rating upgrade reflected Agusto & Co.’s view that Access Bank has strengthened its risk profile, deepened its retail banking drive by creating a digital business.
