FairMoney Microfinance Bank don get upgrade for credit rating from Global Credit Ratings. Their long-term rating don climb from BBB(NG) to BBB+(NG), while their short-term rating don waka from A3(NG) to A2(NG). The outlook still dey stable, wey mean say things fit continue smooth.
The bank talk say the upgrade na because microfinance sector for Nigeria dey improve and them dey maintain strong position. Their tech, operations, and money handling skills dey strong, wey make dem dey top for the business.
Director of FairMoney Nigeria, Henry Obiekea, yan say, “For the last three years, we don dey manage credit risk well without reducing our profit margins.” He add say people dey still demand loans from FairMoney, and dem dey serve plenty small- and medium-sized businesses.
FairMoney get high loan volume, more than 10,000 daily loan requests and disbursements, and their strong brand dey help expand access to finance across Nigeria. Even though competition dey tough, FairMoney dey top the microlending game because of their tech, big transaction volume, and good reputation.
The stable outlook mean say GCR believe say FairMoney go continue improve portfolio quality for next one year to the next one year and half. The bank dey use internal and external data better for risk assessment, dey expand go into secured loans, and macroeconomic environment dey slowly stable.
Henry Obiekea yan say, “This upgrade na strong endorsement of FairMoney. E show say our business model dey strong, financial performance solid, and we dey manage credit risk well.”
FairMoney get license from Central Bank of Nigeria, and their mobile app dey offer instant loans, savings accounts, credit lines, and payment services. Customers fit borrow money anytime, save, and manage their finances on their phones.
This upgrade mean better confidence for customers, investors, and partners. People wey dey use FairMoney fit dey sure say bank go continue dey strong, dey reliable, and dey provide access to small loans wey fit help grow business or personal projects.
For anyone wey dey consider small loans or digital finance services for Nigeria, FairMoney dey solid choice, and this rating upgrade na proof say dem dey improve and dey trustworthy.
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