A four-year-old bank, PremiumTrust Bank, has earned an impressive credit rating from Global Credit Ratings, one of Africa’s leading rating agencies.
The bank received an A- (NG) long-term and A2 (NG) short-term rating, a recognition that underscores its strong capitalisation, sound risk management practices, and consistent growth trajectory in Nigeria’s dynamic banking sector.
This was contained in a statement obtained by the press from the bank on Thursday.
According to GCR, the ratings reflect PremiumTrust Bank’s financial resilience, buoyed by a successful equity raise and improved profitability.
The agency commended the Bank’s robust liquidity position and prudent governance framework, both of which continue to support its credit profile amid expansion across Nigeria’s competitive financial landscape.
GCR further noted that the bank’s ratings are anchored by its solid capitalisation metrics, strengthened by an equity injection that enhanced its balance sheet.
The agency also assessed PremiumTrust Bank’s funding and liquidity position positively, highlighting a stable funding structure and a strong liquidity buffer.
Current and savings account deposits accounted for 92.1 per cent of total deposits, resulting in a low cost of funds of 3.8 per cent, while the deposit base remained well-diversified.
The A- (NG) Long-Term Rating indicates low risk, very good financial strength, and excellent operating performance, whereas the A2 (NG) Short-Term Rating denotes fair credit quality and adequate capacity for timely payment of financial commitments.
These assessments showed PremiumTrust Bank’s ability to meet its obligations efficiently while sustaining growth momentum.
In addition to the GCR rating, PremiumTrust Bank also secured A- (NG) Long-Term and A2 (NG) Short-Term ratings from another reputable credit rating agency, DataPro.
The agency’s evaluation took into account the Bank’s earnings profile, liquidity strength, corporate governance, regulatory compliance, and sustainability of its healthy financial outlook over the medium to long term. DataPro described the Long-Term Rating as indicative of low risk and very good financial strength, while the short-term rating reflects Fair Credit Quality and adequate capacity for timely payments.
The statement partly reads, “The ratings highlight PremiumTrust Bank’s financial resilience, following a successful equity raise and enhanced profitability. GCR commended the Bank’s robust liquidity and prudent governance framework, which continue to underpin its credit profile even as it expands across Nigeria’s competitive banking landscape.
“According to GCR, the Bank’s ratings are anchored by its robust capitalisation metrics, strengthened by a successful equity injection. The agency also assessed PremiumTrust Bank’s funding and liquidity position positively, citing a stable funding structure and a sufficiently liquid balance sheet. Current and savings account deposits represented a significant 92.1% of total deposits, translating to a low cost of funds of 3.8%. The deposit base remains well-diversified.
“The Long-Term Rating of A- (NG) reflects Low Risk, very good financial strength, and excellent operating performance, while the Short-Term Rating of A2 (NG) indicates Fair Credit Quality and adequate capacity for timely payment of financial commitments.
In the same vein, the Bank was also issued A- (NG) Long-Term and A2 (NG) Short-Term Credit Ratings from leading credit agency DataPro. The rating took into consideration the Bank’s earning profile, liquidity, corporate governance, regulatory compliance and sustainability of its current healthy profile from the medium to long term period.
“According to DataPro, the Bank’s Long-Term Rating of A- projects Low Risk, very good financial strength, operating performance, and an excellent business profile, while the Short-Term Rating of A2 indicates Fair Credit Quality and adequate capacity for timely payment of financial commitments.”
The statement further stated, “Despite being less than four years old, PremiumTrust Bank has recorded remarkable achievements, leveraging its ‘phygital’ strategy, a hybrid of physical branch expansion and digital innovation, to drive financial inclusion and extend banking services to underserved communities across Nigeria. This strategic approach has positioned the Bank as a forward-looking institution with a clear focus on sustainable growth.
Commenting on the new ratings, the Managing Director and Chief Executive Officer, Dr. Emmanuel Efe Emefienim, CON, FCIB, expressed satisfaction with the recognition.
“These ratings validate our solid capital base and robust risk management framework and strengthen stakeholder confidence in our financial stability,” he added.
The GCR and DataPro ratings reaffirm investor confidence in PremiumTrust Bank’s governance structure and long-term growth strategy as it continues to support critical sectors such as energy, agriculture, and infrastructure while advancing financial inclusion nationwide.
