Jaiz Bank Plc has received an upgraded credit rating to A- (long-term) and A1 (short-term), both with a stable outlook.
Agusto & Co. Limited, Nigeria’s foremost credit rating agency, upgraded Jaiz Bank’s rating, the bank announced in a statement seen by Pinnacle Daily on Friday, October 24.
Jaiz Bank, a pioneer non-interest bank, similarly received an ESG score of “2”.
ESG, which stands for environmental, social, and governance, is a framework used to assess a company’s performance beyond just financial results.
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It evaluates a company’s impact on the environment, its relationship with people and society, and the quality of its leadership and internal controls, Pinnacle Daily can report.
Jaiz Bank stated that the upgrade reflects the bank’s strong financial fundamentals, sound risk management framework, effective governance practices, and consistent execution of its strategic growth and digital transformation agenda.
It also underscores the bank’s resilience, capital adequacy, and commitment to ethical, sustainable banking that supports Nigeria’s economic development.
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Jaiz Bank stressed further that the improved rating reaffirms the confidence of regulators, investors, and customers in its leadership and strategic direction, particularly as it continues to expand its non-interest banking footprint, deepen financial inclusion, and deliver innovative digital solutions to its growing customer base.
“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.
“We remain committed to continuous improvement, operational excellence, and delivering long-term value to all stakeholders,” the Managing Director/Chief Executive Officer (CEO) of Jaiz Bank, Haruna Musa, said.
Adding the bank expresses appreciation to its customers, regulators, shareholders, employees, and partners for their unwavering support in driving the bank’s success story.
Alex is a business journalist cum data enthusiast with the Pinnacle Daily. He can be reached via ealex@thepinnacleng.com, @ehime_alex on X
