Agusto, DataPro Upgrade Alert MFB Credit Ratings
Alert Microfinance Bank, a member of Alert Group has secured credit rating upgrades from Agusto & Co. and DataPro, reflecting improvements in the Bank’s capital position, liquidity, asset quality and overall financial profile.
Agusto & Co. upgraded Alert MFB’s long-term rating to Bbb- from Bb+, assigned an A3 short-term rating and maintained a Stable Outlook. The rating agency said the upgrade reflects the Bank’s improved capitalisation and liquidity profile, supported by an experienced management team and a non-performing loan ratio that remained in line with industry peers.
In a separate assessment, DataPro upgraded Alert MFB’s long-term rating to A- from BBB+, alongside an A1 short-term rating, with a Stable Outlook and an upward rating trend. DataPro identified good liquidity, good capitalisation, good revenue profile and good asset quality among the key factors supporting the rating.
The dual upgrades follow a period of significant balance-sheet growth for Alert MFB. Total assets increased to approximately ₦28.8 billion in 2025 from ₦12 billion in 2024, while shareholders’ funds rose to ₦5.57 billion from ₦1.37 billion. Deposit liabilities also increased to ₦15.55 billion from ₦5.94 billion, while profit before tax grew to ₦384.3 million from ₦199 million during the same period.
The strengthening of the Bank’s capital base was supported by fresh equity from shareholders during the review period. Agusto & Co. reported that Alert MFB’s Basel I capital adequacy ratio stood at 25% at the end of 2025, compared with the 10% regulatory minimum for microfinance banks, and described the Bank’s capitalisation as good for the business risks undertaken.
Commenting on the development, Dr. Kazeem Olanrewaju, Group Chief Executive Officer of Alert Group, said the ratings reflect the Group’s deliberate approach to building strong financial institutions capable of supporting Nigeria’s businesses and broader economy. “These upgrades are an important validation of the deliberate work that has gone into strengthening Alert MFB’s financial foundation. Our ambition has always been to build for scale, but scale must be supported by adequate capital, disciplined risk management, strong governance and the capacity to meet our obligations.
“As Alert Microfinance bank expands its national footprint, we will continue to invest in the systems, people and financial capacity required to serve more businesses and individuals sustainably. The ratings reinforce our confidence in the direction of the Bank and in our broader vision of building an integrated financial services ecosystem that creates greater access to capital and opportunity.”
Liquidity also remained a key credit strength. Agusto & Co. reported a liquidity ratio of 47.9% at year-end 2025, above the 20% regulatory minimum for microfinance banks. The Bank also maintained ₦3.3 billion in undrawn committed credit lines from three commercial banks, providing an additional liquidity buffer.
Alert Microfinance Bank also recorded strong growth in lending during the period, with gross loans and advances reaching approximately ₦21.4 billion at the end of 2025. Despite the expansion in the loan portfolio, the Bank’s non-performing loan-to-gross loan ratio stood at 4.8%, which Agusto & Co. noted was within the regulatory benchmark.
Agusto & Co. attributed the Bank’s asset-quality position partly to its credit origination process, including physical business visits and multiple levels of approval.
Saheed Raji, Managing Director/Chief Executive Officer of Alert Microfinance Bank, said the independent assessments reflect the progress the Bank has made in strengthening its fundamentals while expanding its capacity to serve customers.
“Over the past year, we have deliberately strengthened our capital base, improved our liquidity position and continued to reinforce the discipline around our credit and risk-management processes.
“For us, growth must be supported by strong fundamentals. As we expand, our priority remains to build a resilient Bank that can provide sustainable access to finance for MSMEs, support businesses with the capital they need to grow and broaden access to financial services across Nigeria.
“The independent assessments by Agusto & Co. and DataPro strengthen our resolve to continue improving our financial performance, risk management and service delivery while creating long-term value for our customers and stakeholders.”
The ratings come as Alert MFB continues the next phase of its growth following the receipt of a national microfinance banking license in 2026, positioning the Bank to expand its operations and customer reach across Nigeria. The Bank provides loans, savings and working capital, with a particular focus on individuals and micro, small and medium-sized enterprises. A
Alert Group today operates in more than 20 states of the federation, with over 40 branches across Nigeria, supporting MSMEs and individuals with accessible financial solutions. This physical reach, which brings the Group’s services closer to the communities and businesses it serves, now sits alongside a growing suite of digital channels, including the Alert Mobile app, the Goldbucks savings app, Alert Business Banking, POS and the Alert Debit Card.
Speaking on the significance of the ratings from a customer and stakeholder perspective, Kayode Abraham, Chief Marketing Officer, Alert Group, said independent assessments play an important role in strengthening confidence as the Bank enters a new phase of growth.
“For our customers, partners and the wider market, these upgrades reinforce the message that as Alert Microfinance Bank grows, the strength of the institution is growing with it. Our responsibility from a brand perspective is to ensure that this institutional progress translates into greater confidence, stronger customer experiences and financial solutions that remain relevant to the people and businesses we serve.”
The Stable Outlooks assigned by both rating agencies reflect their respective assessments of Alert MFB’s current financial position as the Bank continues to execute its growth strategy.
About Alert Microfinance Bank.
Alert Microfinance Bank is a Central Bank of Nigeria-licensed national microfinance bank providing savings, lending and other financial services to individuals and businesses, with particular emphasis on supporting micro, small and medium-sized enterprises and expanding access to finance across Nigeria.
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