Citing Strong Growth, Ratings Firm, GCR, Upgrades Jaiz Bank to BBB

James Emejo in Abuja

Africa’s leading ratings agency, GCR, has raised Jaiz Bank Plc’s national scale long-term issuer rating from BBB-(NG) to BBB (NG), with the Outlook revised from Positive to Stable.

The credit ratings are assigned to legal entities, measuring the relative ability of an issuer within a given country to meet its short-term financial obligations.

Announcing the development, Managing Director/Chief Executive, Jaiz Bank, Dr. Haruna Musa, yesterday, reaffirmed the bank’s commitment to building a resilient financial institution that contributed meaningfully to Nigeria’s economic growth.

In a statement, Musa said, “We are pleased to announce that GCR Ratings has upgraded Jaiz Bank Plc’s national scale long-term issuer rating from BBB-(NG) to BBB(NG).

“This milestone reaffirms our focus on deepening financial inclusion, driving innovation, and upholding the principles of ethical, Shariah-compliant banking.”

He stated that the upgrade reflected the non-interest bank’s strong financial performance, robust risk management practices, and steady progress in strengthening its balance sheet and profitability.

Musa said, “The recognition consolidates Jaiz Bank’s leadership as Nigeria’s pioneer non-interest bank.

“We remain committed to creating sustainable value for all stakeholders and contributing to the growth of the Nigerian economy.”

He also expressed gratitude to the bank’s board, management, staff, customers, regulators, and stakeholders for their unwavering trust and support.