PremiumTrust Bank receives dual credit rating upgrades

PremiumTrust Bank has received dual credit rating upgrades from Nigeria's top two rating agencies, Agusto & Co. and DataPro Limited. The upgrades reflect the Bank's strong financial health, effective risk management, and consistent growth. Agusto & Co. raised the Bank's long-term rating from BBB+ to A- and its short-term rating from A2 to A1.

DataPro upgraded the Bank's long-term rating from A- to A while confirming its short-term rating at A1. The Bank's long-term rating of 'A' indicates a low credit risk and strong ability to meet financial obligations. An A1 short-term rating signifies the highest capacity for timely settlement of short-term commitments. These upgrades represent a significant improvement in the Bank's credit standing since the last assessment.

The agencies cited the Bank's robust capitalization, strong liquidity ratio, and high net interest margin as key factors. The Bank's capital adequacy ratio has increased from 20.8% to 40.8%, and its cost-to-income ratio stands at 23.2%. Agusto & Co. also highlighted the Bank's leading pre-tax return on equity of 84.6% in the Nigerian banking industry.

Both agencies praised the Bank's depth of management, expanding branch network, and digital footprint in their assessments. PremiumTrust Bank's Managing Director, Emmanuel Efe Emefienim, emphasized that the upgrades validate the Bank's fundamentals and signal a commitment to sustained growth through balance sheet strengthening, physical and digital expansion, and capacity investments.