GCR Upgrades Jaiz Bank to BBB (NG), Citing Strong Growth
Jaiz Bank Plc, Nigeria’s pioneer non-interest bank, has received an upgrade from GCR Ratings, which raised the Bank’s national scale long-term issuer rating from BBB-(NG) to BBB (NG), with the Outlook revised from Positive to Stable.
Announcing the development, the Managing Director/Chief Executive Officer of Jaiz Bank, Dr. Haruna Musa, reaffirmed the Bank’s commitment to building a resilient financial institution that contributes meaningfully to Nigeria’s economic growth.
Dr. Musa stated: “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 further noted that the upgrade reflects Jaiz Bank’s strong financial performance, robust risk management practices, and steady progress in strengthening its balance sheet and profitability.
According to him, “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.”
Dr. Musa also expressed gratitude to the Bank’s Board, Management, Staff, Customers, Regulators, and Stakeholders for their unwavering trust and support in achieving this important milestone.
