Kogiflame
By ABUBAKAR YUSUF
Development Bank of Nigeria DBN has won two giant ratings of “AAA” both from Augusto/co as well as Global Credit Rating GCR over due diligence, capacity to meet obligations,asset quality,good capital liquidity as well as experienced management geared towards robust management of MSME’s in Nigeria.
This positive feat was achieved amidst COVID and it’s attendant consequences not only on the economy of Nigeria,but world economies that consisted both of developed and developing countries.
The double edged ratings achieved in 2021 was enabled by the strong capital base and the sustenance of the low end of the market through MSME’s, with the increment of loan portfolio from the previous year to a double amount of 215.1B in 2021, that covered about 136,000 beneficiaries and translated to 75% perfomance.
It also came at a time when the stable liquidity ratio of the bank rose to 84% as against 10% required in the midst of emergencies both in health and economies of Nation’s of the continent.
The global success also took into consideration expansion interms of activities,onboarding more primary financial institutions PFI’s with a thriving MSME’s, through women enterpreneurs/representation to about 50%.
The strides was achieved on the premise as a developement finance Institution with robust policies encouraged by the Banks shareholders,Ministry of Finance,and other international finance agencies like African Developement Bank AFDB,Nigeria Sovereign Investment Authority NSIA,European International Bank EIB, French Developement Bank AFD,German and World Bank.
DBN as providers of long term borrowings,with technical and buisness support strengthened by good management and governance to achieve the desired results, occassioned the national scale rating.
The access to facilities in form of credits for growing MSME’s and it’s possible results post COVID,was a new scale of achievements demonstrated by DBN in their current efforts and managerial abilities.
Combined with the global economic crises,both natural and artificial phenomenon,along with other salient efforts, through its capacity that created job opportunities, industries,enhanced economy and economic situations,as well as drive sustainable growth in Nigeria.
This unique rating of “AAA” was achievable from world recognised rating bodies, through management acumen, that turned global challenges to opportunities in Nigeria, towards not only the sustenance of it’s economy,but world economies by creating an enabling environment for competition.
With the ratings in the 21st century,it is a signal that the coming years will be characterised with best innovations towards a model and modest achievements in MSME’s business, capable of achieving a higher percentage performance that will galvanize Nigeria economy towards social and economic security.
Yusuf, Writes From Abuja.
