Agusto & Co upgrades Jaiz Bank credit ratings
Agusto & Co. upgraded Jaiz Bank to A- for long-term debt and A1 for short-term obligations on Friday while assigning a strong environmental and social governance score. The ratings agency cited capital adequacy and risk controls at Nigeria’s first non-interest financial institution.
Managing Director Haruna Musa said the assessment validates strategic expansion efforts and digital banking investments. The bank attributed the improvement to consistent execution of growth plans aligned with ethical finance principles.
Regulators and investors gain confidence from the stable outlook as the lender expands services for underbanked populations. Jaiz Bank operates under Islamic banking guidelines that prohibit interest-based transactions while supporting national economic development.
