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Agusto & Co. assigns a “Aa-” rating to Access Bank Plc

RATING RELEASE

Agusto & Co. assigns a “Aa-” rating to Access Bank Plc

The rating expires on 30 June 2019.

 

The rating assigned Access Bank Plc (‘Access Bank’ or ‘the Bank’) reflects its acceptable capitalisation, satisfactory profitability, good liquidity and experienced management team. The rating also takes into cognisance Access Bank’s strategic importance to the Nigerian Banking Industry. Nonetheless, the rating is constrained by the Bank’s high operating & funding costs, which have impeded profitability. Asset slippages and political risks emanating from the forthcoming 2019 general election are other constraints to the rating.

This Rating Release is transmitted to you for the sole purpose of dissemination through your newspaper / magazine / agency. The rating release may be used by you in full or in part without changing the meaning or context thereof but with due credit to Agusto & Co.