Rating Release

Agusto & Co. affirms the ‘Bbb-’ (long term) and ‘A3’ (short term) ratings assigned to Lotus Bank Limited, with a stable outlook 

The rating expires on 30 June 2027.

Agusto & Co. affirms the “Bbb-” (long term) and “A3 (short term) ratings assigned to Lotus Bank Limited (“Lotus Bank” or “the Bank”) based on the strong shareholders’ support as reflected in the ₦15.9 billion capital injection, good capitalisation and good liquidity profile. However, these positive rating factors are constrained by the deterioration in asset quality and concentration in both the financing book and deposit liabilities. We have assigned a ‘2’ ESG score, indicating that environmental, social, and governance issues have minimal impact on the Bank’s credit risk profile.