Rating Release

Agusto & Co. affirms the ‘Aa-’ long term and ‘A1+’ short term ratings assigned to United Bank for Africa Plc, with a stable outlook 

The rating expires on 31 December 2026. 

Agusto & Co. affirms the “Aa-” (long term) and “A1+” (short term) ratings assigned to United Bank for Africa Plc (‘UBA’ or ‘the Bank’) on the back of the Pan-African franchise, which moderates exposure to Nigeria’s macroeconomic headwinds while supporting the ability to harness global opportunities. UBA’s good capitalisation, good liquidity profile, and strong ability to refinance are also considered positive rating factors. However, constraining the assigned ratings is obligor concentration and significant write-offs in the loan book. We have also assigned a ‘2’ ESG contribution score, which denotes that environmental, social and governance issues have minimal impact on the Bank’s credit profile.