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

LAGOS, NIGERIA — Globus Bank Limited, a national commercial bank in Nigeria, has secured credit rating upgrades from two of the industry’s leading agencies, reinforcing the Bank’s strengthening financial profile. has upgraded the Bank’s ratings to “A+” (Long Term) and “A1” (Short Term), from “A”, with a Stable Outlook. 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.

Both upgrades point to the same underlying story: improved capitalisation, sound asset quality, zero impaired loans, strong profitability, and robust liquidity. In the financial year ended 31 December 2025, Globus Bank’s total assets and contingents grew 77.4% to ₦3.5 trillion, while total assets alone grew 63.8% to ₦2.6 trillion, rising further to ₦3.3 trillion as of 30 April 2026, growth that both rating agencies cite as evidence of the Bank’s strengthening balance sheet. Agusto & Co.: Capitalisation, Asset Quality and Profitability Drive the Upgrade 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 ₦108.9 billion in additional capital, lifting the capital adequacy ratio (CAR) to 23.7% as at FYE 2025, well above the 10% regulatory minimum. Following regulatory approval of the additional capital, paid-up capital rose to ₦200.7 billion by 31 March 2026, above the ₦200 billion regulatory minimum for a national bank, lifting the CAR further to 25% as at 30 April 2026. Asset quality remained a core strength, with a nil impaired loan ratio as at FYE 2025, better than the 0.1% recorded the prior year.

Profitability was similarly strong: pre-tax profit surged 93.1% to ₦107.7 billion, with a pre-tax return on average equity of 41.8%, significantly ahead of the 32% banking industry average. Liquidity remained robust, with the liquidity ratio rising to 87% (FYE 2024: 66%), well above the 30% regulatory minimum. GCR: Capital, Asset Quality and Liquidity Drive the Upgrade GCR’s rating rationale similarly rests on three pillars central to the Bank’s improved credit profile.