Agusto & Co., the Pan-African credit rating agency, has upheld the ‘A’ rating for Fidelity Bank Plc and assigned the bank an Environmental, Social, and Governance (ESG) score of ‘2’.
The agency’s assessment indicates that environmental, social, and governance factors have a minimal impact on the bank’s credit rating.
According to a statement posted on the Agusto & Co. website, the rating reflects Fidelity Bank’s notable improvements in profitability, strong refinancing capabilities, adequate capitalization, and a low level of impaired credits.
Fidelity Bank is a prominent commercial bank operating in Nigeria, serving more than 7.5 million customers through its extensive network of 250 business offices and digital banking channels.
In recognition of its outstanding performance, the bank was recently honored with the titles of “Best Payment Solutions Provider, Nigeria, 2023” and “Best SME Bank, Nigeria, 2022” at the Global Banking and Finance Awards.
The affirmation of the ‘A’ credit rating and the positive ESG score are expected to further bolster Fidelity Bank’s reputation and instill confidence among its stakeholders and investors
