S&P Global has revised its outlook on the Bank of Industry (BOI) from Stable to Positive, affirming the Bank’s issuer credit rating at B-/B on the long- and short-term global rating scale, alongside the reaffirmation of its Nigerian national credit rating at ngBBB+/ngA-2.
This improved outlook reflects BOI’s strong asset quality, effective leadership, robust governance structure, and the ongoing macroeconomic reforms implemented by the Federal Government, which are expected to deliver positive outcomes in the near to medium term.
Importantly, this rating places BOI at the highest possible credit rating attainable by any Development Finance Institution (DFI) in Nigeria, as ratings remain capped by the sovereign.
