Rating Release

Agusto & Co. upgrades Wema Bank Plc ratings to ‘A’ (long term) and ‘A1’ (short term), with a stable outlook 

The rating expires on 30 June 2027. 

Agusto & Co. upgrades the ratings assigned to Wema Bank Plc (“Wema Bank” or “the Bank”) to “A” (long term) and “A1” (short term). The ratings upgrade is anchored on the improved profitability, good liquidity profile and strong shareholders’ support as reflected in the successful capital raising exercise. However, the rising impaired loans and persistent macroeconomic pressures offset these positive factors. We have also attached a “2” ESG score reflecting our view that environmental, social, and governance issues have a minimal impact on the Bank’s rating.