Agusto & Co. assigns an “A-“ rating to Accion Microfinance Bank
The rating expires on 30 June 2019.
Agusto & Co assigns an A- rating to Accion Microfinance Bank (‘Accion’ or ‘the Bank’). The rating of the Bank is supported by Accion’s good profitability, strong capitalisation, good corporate governance and good market position in the Nigerian microfinance industry. However, the rating is constrained by the high level of impaired credits, which has exceeded the regulatory minimum prescribed for microfinance banks.
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