Abuja, Nigeria – Jaiz Bank Plc, the country’s pioneer non-interest lender, has secured a credit rating boost as GCR Ratings raised its national scale long-term issuer rating from BBB-(NG) to BBB (NG). The outlook has also been revised from positive to stable, signaling confidence in the bank’s financial trajectory.
Announcing the Jaiz Bank upgrade, Managing Director and Chief Executive Officer, Dr. Haruna Musa, said the recognition underscores the bank’s resilience and commitment to ethical, Shariah-compliant banking. “This milestone reaffirms our focus on deepening financial inclusion, driving innovation, and upholding the principles of ethical banking,” Musa stated.
According to GCR, the upgrade reflects Jaiz Bank’s strong financial performance, robust risk management practices, and consistent balance sheet improvement. The bank has recorded steady growth in profitability while strengthening its capital base and liquidity position, consolidating its leadership in Nigeria’s fast-expanding non-interest banking sector.
Musa noted that the achievement was made possible by the support of the bank’s board, management, staff, customers, regulators, and stakeholders. “We remain committed to creating sustainable value for all stakeholders and contributing to the growth of the Nigerian economy,” he added.
Industry analysts view the rating improvement as a positive signal for investors and the broader financial market, positioning Jaiz Bank to expand its market share and attract new customers seeking Shariah-compliant financial products.
The Jaiz Bank upgrade reinforces its role as a key player in Nigeria’s evolving financial landscape, aligning with the Central Bank of Nigeria’s push to broaden financial inclusion and diversify banking models across the country.
