Rating Release
Agusto & Co. affirms the ‘Bbb’ rating assigned to Jaiz Bank Plc, with a stable outlook
The rating expires on 30 June 2025.
Agusto & Co. affirms the ‘Bbb’ rating assigned to Jaiz Bank Plc (‘Jaiz Bank’ or ‘the Bank’), reflecting a good refinancing ability, better profitability and good capitalisation upheld by recent infusion of capital by shareholders. However, offsetting these positives are the high levels of impaired financing contracts, low market share despite its age and the prevailing macroeconomic challenges. A ‘3’ ESG score has also been attached to the rating, reflecting our view that environmental, social and particularly governance issues have a material impact on the Bank’s credit risk.
