Globus Bank Receives Upgrades from Agusto & Co. and GCR
Globus Bank Limited has achieved credit rating upgrades from Agusto & Co. and GCR Ratings, reinforcing its financial strength. The upgrades, announced recently, follow the bank's financial year ending 31 December 2025, during which total assets grew by 77.4% to N3.5 trillion, with total assets alone increasing by 63.8% to N2.6 trillion, and further rising to N3.3 trillion by 30 April 2026.
The Managing Director/CEO, Elias Igbinakenzua, stated that these upgrades validate the bank's disciplined capital raising, risk management, and deposit growth strategies. Agusto & Co. upgraded the bank's ratings to “A+” (Long Term) and “A1” (Short Term) from “A”, maintaining a stable outlook.
Similarly, GCR Ratings upgraded the bank’s national scale ratings to BBB+(NG) for Long-Term Issuer rating and A2(NG) for Short-Term Issuer rating, also with a stable outlook. The upgrades are attributed to the bank's improved capitalisation, nil impaired loans, strong profitability, and robust liquidity, despite some concentration in the loan book and deposit base.
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