Agusto & Co. assigns a “Aa-“ rating to United Bank for Africa Plc.
The Rating expires on 30 June 2018.
United Bank for Africa Plc’s (“UBA” or “the Bank”) rating is underpinned by a good liquidity profile, strong market share, acceptable capitalisation and satisfactory profitability, driven by an experienced management team. UBA leverages on its large pool of deposit liabilities generated through 532 branches in Nigeria which was sufficient to fund 60.8% of the Bank’s N2.8 trillion total assets and contingents. UBA stood as the fifth largest bank by total assets and contingents as at 31 December 2016.
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