DataPro Affirms Guaranty Trust Bank “AA+ Rating

DataPro, the technology-driven credit rating agency has in its latest report affirmed Guaranty Trust Bank Limited long-term rating of “AA+” with a positive outlook for the year 2021/2022.

According to a statement signed by DataPro’s Client Service Manager, Mr. Kehinde Rasheed, the “AA” indicates lower risk.

“It shows excellent financial strength, operating performance, and profile when compared to the standards established by DataPro. This bank, in our opinion, has a very strong ability to meet its ongoing obligation,” the statement said.

It further explained that, “The DataPro Rating committee approved the rating after assessment of the company’s financial performance, capital adequacy, asset quality, liquidity, profitability, governance, risk and compliance, risk factors and future outlook of its current healthy profile in the medium to long term period. The rating of Guaranty Trust Bank Limited is supported by its diversified revenue base, experienced management, strong capitalisation, and brand presence.”

Given a detailed breakdown of the new threshold, the statement explained that Guaranty Trust Bank Limited had a short-term rating of “A1+” which indicates the highest credit quality and strongest capacity for timely payment of financial commitments.

“DataPro notes that the rating carries a maximum shelf life of 12 calendar months, in line with international best practice. The rating is therefore not on offer to trade securities not a substitute for the user’s judgment. It is meant for reference purposes,” the statement said.