Rating Release

Agusto & Co. affirms Access Bank Plc.’s ‘Aa’ rating, assigns an ESG score of 2 and a stable outlook.

 The rating expires on 30 June 2024.

Agusto & Co. hereby maintains the “Aa” credit rating to Access Bank Plc (“Access Bank” or “the Group”) reflecting its status as Nigeria’s largest bank by total assets, growing franchise across the African continent and expansion to business hubs across the world. Access Bank’s acceptable capitalisation, good asset quality, strong refinancing capacity across the domestic and international capital markets and experienced and stable management team also uphold the rating. The rating is however constrained by the fragile global economic environment, geographical concentration, adverse regulatory terrain in Nigeria and exposure to Ghana’s fiscal crisis. We have also attached an ESG score of “2”, reflecting our view that environmental, social and governance issues have a minimal impact on the Group’s credit rating.