Rating Release
Agusto & Co. hereby affirms the “A-” rating assigned to NPF Microfinance Bank Plc with a stable outlook
The rating expires on 30 June 2024.
Agusto & Co. hereby affirms the “A-” rating assigned to NPF Microfinance Bank Plc (“NPF MFB”, “the MFB” or “the Bank”). The rating reflects NPF MFB’s good asset quality, competent and experienced management team and the strong support for business volumes and funding from shareholders. However, the rating is constrained by the MFB’s high-cost profile, considerable mismatch in funding and vulnerability to the fragile finances of the Federal Government of Nigeria. We have also considered the adverse impact of the volatile economic climate on businesses and households in arriving at the rating.
NPF MFB is a leading provider of micro banking services including loans, savings and deposits to low-income households and micro, small and medium sized enterprises (MSMEs), with a focus on members of the Nigeria Police Force.