By Victoria Onehi
Nigeria’s leading non-interest banking services provider,TAJBank Limited, has again set a record with Bbb+ rating by the foremost rating agency – Agusto & Co -, thereby making the fast-growing non-interest lender the best rated in the nation’s Non-Interest Banking (NIB) space.
The latest rating, which is a notch up from the Bank’s previous rating, comes in recognition of the bank’s high quality balance sheet and robust earnings capacity.
The lender clinched the rating of Bbb last year despite the prevailing economic situation, but this year took its operational efficiency and best practice principles higher to Bbb+, which industry analysts attributed to bank’s zeal and strong performance rendering its innovative products and services to its growing customer base.
Speaking on the improved rating of the bank by the rating agency, the Founder/CEO of the fastest growing and value-driven non-interest lender, Mr. Hamid Joda, described the improved rating by Agusto & Co as a clear demonstration that TAJ Bank has continued to prioritise necessary risk management and operational controls, with clear focus on quality processes related to first class standards, management, and administration lifecycle.
He enthused: “The latest rating of TAJ Bank by the reputable agency has, once again, confirmed the management’s commitment to world-class standardization of the bank’s operations, especially in terms ensuring high operational standards and service provisions for our growing customers on a sustainable basis.
“As we have consistently assured our customers and industry regulators, our primary goal is to deliver cutting edge quality and operational systems and services as well as protect the interest of our customers and by so doing, retain TAJ Bank as the leader in the NIB subsector of the banking system and make it the preferred choice for value-conscious customers in non-interest banking services in Nigeria and globally.
“Our message to both current and potential customers out there is that with TAJ Bank, they can be rest assured of safety of their transactions and the bank’s readiness to support their business and other endeavors in line with our operational mantra, which says our interest is only the customer”, Joda assured.
In his remarks, the bank’s Executive Director, Sherif Idi, said that the latest TAJ Bank ratings by Agusto & Co, had again “reaffirmed TAJ Bank as a system and operational-conscious and standard-drive non-interest lender.
He noted that today , TAJ Bank remains at the leading edge of the NIB sub-sectoral market and is determined to retain this position in the years ahead by prioritising investment in human capital and innovative technologies and solutions in order to continue to serve its customers better and add value to the businesses or socioeconomic well-being.
Agusto & Co assigns credit risk ratings to various entities, including financial institutions, companies in the industrial and commercial sectors, state governments, mutual funds and more.