Rating Release
Agusto & Co. affirms the ‘Bb-’ rating assigned to Unity Bank Plc, with a positive outlook
The rating expires on 30 June 2024.
Agusto & Co. hereby affirms the “Bb-” rating assigned to Unity Bank Plc (“Unity Bank” or “the Bank”) and attaches a ‘3’ ESG score which denotes that environmental, social and governance issues have a material impact on the assigned credit rating. The rating is hinged on the Bank’s low level of impaired credits, adequate liquidity position and growing retail brand franchise. However, suppressing these factors are the Bank’s negative capital, sectoral and obligor concentration in the loan book amidst the prevailing macroeconomic and regulatory headwinds