TAJBank Limited has secured an upgraded A1 credit rating from Agusto & Co and Datapro, marking a significant improvement from its previous Bbb+ rating.
The upgrade reflects stronger financial performance, improved balance sheet quality, and robust earnings ratios for the 2025 financial year, despite prevailing macroeconomic challenges.
The latest rating comes nearly two years after the bank earned a Bbb+ rating from a pan-African credit rating agency.
The new A1 assessment was attributed to the bank’s high-quality asset base, operational efficiency, and strengthened risk management framework.
What they are saying
Speaking during an interactive session with journalists, the Founder and CEO of TAJBank, Mr. Hamid Joda, described the upgrade as validation of the bank’s strategic direction.
- “TAJBank Limited’s latest ratings by these reputable agencies have again validated the management’s commitment to world-class standardization of the bank’s operations, especially in terms of innovative, real-time, techno-powered services and risk management for our growing customers on a sustainable basis.
- “As we have consistently maintained, our primary goal is to deploy world-class operational standards and services to protect the interest of our customers with a view to surpassing their expectations and retaining TAJBank at the leading edge of the NIB subsector on a sustainable basis.”
Joda added that the A1 rating reassures customers, investors, and stakeholders in the non-interest banking (NIB) space about the safety of their investments and transactions, as well as the bank’s capacity to support business growth and socio-economic development.
More insights
The bank’s Executive Director, Mr. Sherif Idi, said the rating upgrade underscores sustained investment in people, technology, and infrastructure.
- “The A1 ratings by Agusto & Co and Datapro have reaffirmed TAJBank’s management’s unwavering commitment to best practice standards through prioritization of investment in human capital, innovative technologies and branch network expansion.”
Industry analysts note that TAJBank’s consistent growth trajectory and deepening role in financial inclusion, particularly at the grassroots level, have strengthened its footprint in Nigeria’s non-interest banking segment.
What you should know
In September 2025, TAJBank announced that it had surpassed the revised minimum capital requirement set by the Central Bank of Nigeria (CBN) for national non-interest banks.
Under new capital thresholds introduced by the CBN in March 2024 to strengthen financial system resilience, national non-interest banks were required to raise their capital base to ₦20 billion, with full compliance due by March 2026.
As part of its post-recapitalisation strategy, TAJBank disclosed plans to further scale up its digital infrastructure and expand technology-driven services to consolidate its position in the non-interest banking subsector.
