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Agusto & Co. assigns “SR4” Servicer rating to Brent Mortgage Bank Limited

Rating releases

Agusto & Co. assigns “SR4” Servicer rating to Brent Mortgage Bank Limited.

The rating expires on 25 July 2020.
The rating assigned to Brent Mortgage Bank Limited (“Brent” “the Bank” or “the Servicer”) reflects the Servicer’s satisfactory collection and asset administration procedures. The rating is however constrained by overlapping functions amongst core staff and a largely manual credit administration and process.

Brent Mortgage Bank, formerly known as Skyfield Savings & Loans Limited was incorporated as a state primary mortgage bank to provide mortgage services to individuals and corporate bodies. The Mortgage Bank was renamed “Brent” after a restructuring exercise aimed at improving corporate governance, performance and service delivery. Brent is a primary servicer with 16 core (residential) mortgages and over 100 commercial loans in its portfolio with a net value of ₦505 million as at 31 December 2018.

 

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.