Rating Release
Agusto & Co. affirms Access Bank Plc’s rating of ‘Aa’ long term and ‘A1+’ short term rating, with a stable outlook
The rating expires on 30 June 2026.
Agusto & Co. affirms the “Aa” (long term) and “A1+” (short term) ratings assigned to Access Bank Plc (“Access Bank” or “the Group”), reflecting the Group’s position as Nigeria’s largest banking group by total assets with a growing franchise across Africa and global financial hubs. Access Bank’s adequate capitalisation, bolstered by the ₦351 billion rights issue exercise, and strong ability to refinance in both domestic and international debt markets were also considered in the assigned ratings. However, the ratings are constrained by persistently high funding costs and operating expenses, alongside the challenging macroeconomic and regulatory environments across several African markets where the Group operates. We have also attached a “2” ESG score, reflecting our view that environmental, social and governance issues have a minimal impact on the Group’s rating.
