Rating Release 

Agusto & Co. hereby affirms the “Bbb” long term “A3” short term ratings assigned to Addosser Microfinance Bank Limited with a stable outlook. 

The rating expires on 30 June 2027 

Agusto & Co. hereby affirms the “Bbb” (long term) and “A2” (short term) ratings of Addosser Microfinance Bank Limited (“Addosser MFB” or “the MFB”). The ratings reflect Addosser MFB’s low non-performing loans relative to peers, strong liquid assets ratio, sound profitability metrics, and experienced management team. However, the ratings are constrained by the MFB’s reliance on wholesale funding and the concentration in its deposit liabilities and ownership structure. We have also considered the impact of inflationary pressures and business expansion on Addosser MFB’s risk profile.

Addosser MFB is a state-licensed microfinance bank operating in Lagos State, with total assets of ₦44.6 billion as at the 2025 FYE and contributing circa 0.8% of the microfinance banking industry’s asset base.