{"id":14924,"date":"2017-07-03T12:28:08","date_gmt":"2017-07-03T11:28:08","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=14924"},"modified":"2017-07-03T12:28:08","modified_gmt":"2017-07-03T11:28:08","slug":"agusto-upgrades-access-banks-rating-aa","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/agusto-upgrades-access-banks-rating-aa\/","title":{"rendered":"Agusto upgrades Access Bank\u2019s rating to Aa-"},"content":{"rendered":"

In<\/span>\u00a0a recent rating review of Access Bank Plc, Nigeria\u2019s foremost rating agency Agusto & Co, has raised the bank\u2019s rating from \u201cA+\u201d to \u201cAa-\u201d, with a stable outlook. The upgrade reflects Access Bank\u2019s strong financial profile, resilient profitability levels and solid capital position.<\/span><\/p>\n

\u00a0Agusto & Co also recognised Access Bank as an institution of very good financial condition and strong capacity to meet its obligations. The rating is further supported by the bank\u2019s strong domestic presence supported by extensive branch network, good liquidity profile as well as experience and skill of its management team.<\/span><\/p>\n

\u00a0Speaking on the new rating, Group Managing Director\/CEO, Access Bank Plc, Herbert Wigwe, said, \u201cThe\u00a0rating only goes to confirm our consistency over the years in delivering superior value to our stakeholders in line with our vision to be the world\u2019s most respected African bank. The upgrade in the bank\u2019s outlook reflects our commitment to the core values of innovation, professionalism and devotion to excellence in our operations and service delivery.\u201d<\/span><\/p>\n

\u00a0The rating upgrade reflects Agusto & Co\u2019s view that Access Bank has strengthened its risk profile, deepened its retail banking drive by creating a digital business through its digital strategy, embraced a cost reduction programme and the use of value chain strategy to capture small businesses in the retail segment of the market.<\/span><\/p>

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Advertisement<\/div>\r\n\t\t\t\t\t\t\t<\/a>\r\n \r\n\t\t\t\t\t\t\t<\/div>\n

\u00a0This further supported by the bank\u2019s 5 year strategic plan to rank among the top 3 banks in its chosen markets and across financial metrics by the end of 2017. It has translated to a growth in market share for Access Bank with the bank becoming the third largest bank on the basis of its total assets and contingents of N3.3trillion as at 31 December 2016.<\/span><\/p>\n

\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

In\u00a0a recent rating review of Access Bank Plc, Nigeria\u2019s foremost rating agency Agusto & Co, has raised the bank\u2019s rating from \u201cA+\u201d to \u201cAa-\u201d, with a stable outlook. The upgrade reflects Access Bank\u2019s strong financial profile, resilient profitability levels and solid capital position. \u00a0Agusto & Co also recognised Access Bank as an institution of very …<\/p>\n","protected":false},"author":11,"featured_media":12640,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23],"tags":[793],"coauthors":[2392,2393],"class_list":["post-14924","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","tag-access-bank"],"yoast_head":"\nAgusto upgrades Access Bank\u2019s rating to Aa- National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/agusto-upgrades-access-banks-rating-aa\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Agusto upgrades Access Bank\u2019s rating to Aa- National Wire\" \/>\n<meta property=\"og:description\" content=\"In\u00a0a recent rating review of Access Bank Plc, Nigeria\u2019s foremost rating agency Agusto & Co, has raised the bank\u2019s rating from \u201cA+\u201d to \u201cAa-\u201d, with a stable outlook. 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