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Agusto & Co. assigns an “A-“ rating to Accion Microfinance Bank

RATING RELEASE

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.

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.