Agusto & Co., GCR Ratings Upgrade Globus Bank’s Credit Ratings

Globus Bank Limited, has secured credit rating upgrades from Agusto & Co., GCR Ratings, which further reinforcing the bank’s strengthening financial profile, improved capitalisation, sound asset quality, zero impaired loans, strong profitability, and robust liquidity.

In a statement released by the firm recently, the double upgrades is coming based on the success recorded in their financial year ended 31 December 2025, which showed that the bank’s total assets and contingents grew 77.4% to N3.5 trillion, while total assets alone grew 63.8% to N2.6 trillion, rising further to N3.3 trillion as of 30 April 2026.

The bank noted that this growth is what the two rating agencies cite as evidence of the bank’s strengthening balance sheet.

In a statement, the MD/CEO, Globus Bank Limited, Elias Igbinakenzua, said these upgrades are a validation of the disciplined choices we have made in how we raise capital, how we manage risk, and how we grow deposits.

According to him, “Our strengthened capital base gives us the firepower to grow, lend, and withstand shocks that would buckle weaker institutions. Our nil impaired loan record is the product of a disciplined review process, rigorous credit monitoring, strong corporate governance, and a culture that takes risk seriously every day. And the trust our customers place in us is reflected in a deposit base. Receiving these affirmations from two independent agencies within the same year strengthens our resolve to do more for the Nigerian economy.”

However, the firm noted that Agusto & Co. upgraded the Bank’s ratings to “A+” (Long Term) and “A1” (Short Term), from “A”, with a stable outlook, as GCR Ratings (GCR) also upgraded the bank’s national scale ratings to BBB+(NG) for the Long-Term Issuer rating and A2(NG) for the Short-Term Issuer rating, from BBB(NG) and A3(NG) respectively, also with the Outlook maintained at Stable.

According to the statement, “Agusto & Co.’s upgrade rests on the Bank’s improved capitalisation, nil impaired loans, good profitability, and strong liquidity, tempered by concentration in the loan book and deposit base. During the year under review, Globus Bank’s capital buffers were strengthened by N108.9 billion in additional capital, lifting the capital adequacy ratio (CAR) to 23.7% as at FYE 2025, well above the 10% regulatory minimum.”