INFINITY MICROFINANCE BANK’s UPGRADED RATING
1. Rating Upgrade Announcement: Infinity Microfinance Bank Nigeria Limited has received a long-term rating of A- from DataPro, a Nigerian consulting firm. This is an improvement from the bank's previous rating of BBB+.
2. Factors Behind the Rating: DataPro's evaluation considered various factors, including industry insights, market intelligence, and the bank’s audited financial statements. The A- rating highlights the bank's robust performance in several key areas: capitalisation, earnings, liquidity, corporate governance, and compliance with regulations.
3. Stability and Future Outlook: The upgraded rating reflects the bank’s strong sustainability and financial health over the medium to long term. This stable outlook indicates the bank’s ability to navigate financial challenges effectively.
4. Management's Response: The Managing Director of Infinity Microfinance Bank, Gabriel Adewunmi, attributed the improved rating to the bank’s excellent liquidity, profitability, growth, and good asset quality. He also praised the competent management team and the well-focused board for the bank's success over the years.
5. Background of Infinity Microfinance Bank: Founded in March 2005 as a community bank (Infinity Community Savings), the bank has played a significant role in mobilizing savings and providing loans to small-scale entrepreneurs. It transitioned to a microfinance bank in October 2007 following Nigeria's Microfinance Bank Policy and received a state license in 2013.
1. Rating Upgrade Announcement: Infinity Microfinance Bank Nigeria Limited has received a long-term rating of A- from DataPro, a Nigerian consulting firm. This is an improvement from the bank's previous rating of BBB+.
2. Factors Behind the Rating: DataPro's evaluation considered various factors, including industry insights, market intelligence, and the bank’s audited financial statements. The A- rating highlights the bank's robust performance in several key areas: capitalisation, earnings, liquidity, corporate governance, and compliance with regulations.
3. Stability and Future Outlook: The upgraded rating reflects the bank’s strong sustainability and financial health over the medium to long term. This stable outlook indicates the bank’s ability to navigate financial challenges effectively.
4. Management's Response: The Managing Director of Infinity Microfinance Bank, Gabriel Adewunmi, attributed the improved rating to the bank’s excellent liquidity, profitability, growth, and good asset quality. He also praised the competent management team and the well-focused board for the bank's success over the years.
5. Background of Infinity Microfinance Bank: Founded in March 2005 as a community bank (Infinity Community Savings), the bank has played a significant role in mobilizing savings and providing loans to small-scale entrepreneurs. It transitioned to a microfinance bank in October 2007 following Nigeria's Microfinance Bank Policy and received a state license in 2013.