- TrustBanc Holdings Limited received dual credit rating upgrades from GCR Ratings and Agusto & Co., raising its long-term Issuer Rating to BBB+ (from BBB) and short-term Issuer Rating to A2 (from A3), both with a Stable Outlook.
- The upgrades reflect TrustBanc’s strong liquidity profile, prudent risk management, improved operating efficiency, and sound governance, alongside low non-performing loans and good capitalisation metrics.
- CEO Abu Jimoh described the ratings as validation of TrustBanc’s strategy and resilience, reinforcing its commitment to delivering sustainable value and maintaining robust liquidity to support clients’ investment and business objectives.
TrustBanc Holdings Limited has received dual credit rating upgrades from GCR Ratings and Agusto & Co., with both agencies upgrading the Group’s long-term Issuer Rating to BBB+ from BBB and its short-term Issuer Rating to A2 from A3, all with a Stable Outlook.
The upgrades reflect TrustBanc’s strengthened financial position, adequate liquidity profile, sound risk management framework, and growing business profile.
GCR’s rating commentary highlighted that TrustBanc’s liquidity profile remains strong and well diversified, even amid prevailing tight monetary conditions.
The agency noted the Group’s prudent liquidity management, supported by a stable funding structure and adequate buffers to meet both operational and market obligations. GCR also referenced measurable improvements across key performance indicators, including the cost-to-income ratio, return on assets, and return on equity, reflecting enhanced operating efficiency, balance-sheet optimisation, and improved earnings quality.
In addition, GCR observed that the Group’s board composition is fully aligned with corporate governance requirements and that the level of transparency and disclosure across its financial statements and related reporting remains appropriate and consistent with standards.
Agusto & Co.’s rating commentary similarly underscored TrustBanc’s strong credit fundamentals. The agency highlighted the Group’s low level of non-performing loans, supported by its business strategy and robust risk management framework. Agusto also identified good capitalisation metrics, low leverage, demonstrated access to the domestic debt capital markets, and an experienced management team as key rating strengths, noting that these factors collectively enhance the Group’s capacity to absorb shocks, refinance obligations, and sustain growth across market cycles.
“This dual rating upgrade is a strong validation of TrustBanc’s strategy, as well as our proactive risk management framework, and our commitment to building a resilient, well-capitalised financial services group. It reflects the confidence of the rating agencies in our business model, governance standards, and ability to deliver sustainable value for our clients and partners. Beyond recognition, we view this upgrade as a responsibility, an affirmation of the trust placed in TrustBanc by our clients, partners, and regulators, and it further reinforces our resolve to remain closely aligned with our clients’ needs, maintain robust liquidity to support their investment and business objectives.” Mr. Abu Jimoh, CFA, TrustBanc Financial Group’s Chief Executive Officer.
About TrustBanc Holdings Limited
TrustBanc Holdings Limited is the parent company of a fully integrated financial services group comprising four licensed operating subsidiaries: TrustBanc Capital Management Limited, TrustBanc Asset Management Limited, TrustBanc J6 Microfinance Bank Limited, and WeFinance Solutions Limited.
The Group provides a comprehensive suite of investment management and financing solutions, including treasury management, fund and wealth management, investment advisory services, securities trading, non-interest investment and financing, corporate finance, microfinance, savings, payments, and lending solutions.
