- January 5, 2022
- Posted by: Daniel Omole
- Category: Uncategorized
Agusto & Co. hereby assigns a “Bbb” rating to Infinity Microfinance Bank Limited (“Infinity MFB” or “the MFB”). Infinity MFB’s rating is supported by a good funding and liquidity profile, adequate capitalisation, an experienced management team and established credit risk management processes. The MFB’s rating is, however, constrained by a rising ratio of non-performing loans (NPLs), low profitability ratios and concentration in the funding base. The impact of the COVID-19 pandemic on the Nigerian economy and microfinance industry has also been taken into consideration.
Infinity MFB is licensed to operate as a state microfinance bank in Lagos State by the Central Bank of Nigeria (CBN.) The MFB provides microfinance banking services including deposits and short-term loans to Micro, Small and Medium-Sized Enterprises (MSMEs).