Abbey Bank retains A3 short-term credit standing

Abbey Bank Plc has acquired an affirmation of its short-term credit standing of “Bbb-” and “A3”, by Agusto & Co., reflecting the Bank’s improved capitalization, robust liquidity profile.

The affirmation of the A3 ranking underscores the Bank’s capability to satisfy its short-term monetary obligations, supported by its sturdy liquidity place and strengthened stability sheet. Agusto & Co. additionally assigned a Stable Outlook to the Bank’s rankings, reflecting expectations that its strengthened monetary place, increasing franchise and rising earnings diversification will help its credit score profile.

The ranking affirmation comes as Abbey Bank advances its transformation from a nationwide mortgage financial institution to a regional business financial institution, following approval from the Central Bank of Nigeria (CBN) in June 2026.

 The Bank is getting ready to start business banking operations in November 2026, with a strategic concentrate on increasing its monetary providers choices throughout the South-West, South-South and North-West areas, in addition to the Federal Capital Territory, Abuja. This transition is predicted to strengthen the Bank’s capability to serve a broader buyer base, deepen market penetration and diversify its income streams.

A key spotlight of the ranking evaluation is Abbey Bank’s robust liquidity place. As at December 31, 2025, the Bank’s complete property stood at N166 billion, with liquid property of N148 billion, representing 89 per cent of complete property. Its liquid assets-to-deposits ratio stood at 185.3 per cent, considerably above the regulatory minimal of 20% and business friends. The Bank additionally maintained an undrawn US$20 million reverse repo line as at June 30, 2026, offering a further liquidity buffer. Furthermore, its asset high quality improved, with the NPL ratio declining from 7.7 per cent in 2024 to 7.2 per cent at year-end 2025 and additional to 4.1 per cent as at June 30, 2026, supported by continued recoveries and prudent mortgage origination.

Abbey Bank’s capital place additionally strengthened following its profitable N64.5 billion fairness elevate, with regulatory approval acquired in August 2026. The proceeds will considerably improve the Bank’s capital base and help its transition to business banking. The ranking additional acknowledged the Bank’s improved profitability, with revenue earlier than tax rising to N3.1 billion in 2025, in contrast with N2.1 billion in 2024. As the Bank expands into building lending, fixed-income buying and selling, overseas foreign money transactions and commerce finance, it is going to construct a extra diversified earnings base and strengthen its long-term progress prospects.

Commenting on the ranking affirmation, the Managing Director/Chief Executive Officer of Abbey Bank Plc, Mr. Mobolaji Adewumi, stated: “The affirmation of our rankings by Agusto & Co., significantly our A3 short-term ranking, is a powerful endorsement of Abbey Bank’s monetary resilience, liquidity power and strategic path. It displays the progress we’ve made in strengthening our stability sheet and getting ready for our transition to business banking. As we embark on this new section, our focus stays on constructing a stronger, extra diversified and customer-centric financial institution, whereas sustaining prudent threat administration and sound monetary self-discipline. We are assured that our transformation will create higher worth for our prospects, shareholders and different stakeholder