PremiumTrust Bank earns strong GCR ratings
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 our correspondent 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.
