Rating Release

Agusto & Co. upgrades Optimus Bank Limited rating to ‘Bbb’, with a stable outlook

The rating expires on 30 June 2026.

Agusto & Co. hereby upgrades the rating of Optimus Bank Limited (‘Optimus Bank’ or ‘the Bank’) to “Bbb” (long term) and “A2” (short term) on the back of improving profitability, strong support of shareholders as reflected in the ₦25 billion capital injection and good liquidity profile. However, constraining these positive rating factors are the limited operating history, low market share in a highly competitive banking industry and concentration in the loan book and the funding base. We have also assigned a “3” ESG score, reflecting our view that environmental, social and governance issues have a material contribution to the Bank’s credit risk.