Agusto & Co. has upgraded the rating of FCMB Asset Management to A(IM). This upgrade reflects the company's strong performance in asset management. The announcement highlights ongoing improvements in the financial sector.
FCMB Asset Management, a subsidiary of First City Monument Bank, has received an upgraded credit rating from A- to A(IM) by Agusto & Co., a leading African credit rating agency. This upgrade, announced on December 12, 2025, underscores the firm's robust financial health and operational efficiency in managing investment portfolios.
The rating agency cited FCMB Asset Management's consistent growth in assets under management and its adherence to best practices in risk management as key factors. Agusto & Co. noted the company's ability to navigate economic challenges while delivering value to clients. This development comes amid a competitive landscape in Nigeria's financial services sector, where firms are increasingly scrutinized for stability and innovation.
No specific quotes from executives were detailed in the available information, but the upgrade is expected to enhance investor confidence and support FCMB Asset Management's expansion efforts. Other headlines from the publication, such as honors for individuals and tech risk strategies, indicate a broader context of business achievements in Nigeria, though they remain separate from this event.
