According to Michael Lafferty, Chairman, Lafferty Group “banks that score well on Lafferty Bank Quality Ratings tend to trade at a premium price to their tangible book value”.
The Managing Director/Chief Executive Officer of the Bank, Yemi Adeola in a statement said:
“Our Bank has remained resilient in a turbulent operating environment; and Lafferty Bank Quality Ratings has provided an objective view on the fundamentals of our business, by rating us 10th in the world, top 3 in Africa (after Capitec and Barclays Africa) and the top bank in Nigeria. In spite both regulatory and macroeconomic headwinds, we have maintained strong capital and liquidity positions. I am pleased that an external and independent party has validated the Bank’s reputation as a well-run, sustainable institution which further lays credence to our valuation in the equities market relative to competition”.
The Bank’s MD has also reiterated that the Bank will remain committed to building a strong brand with a pervasive culture of innovation, good corporate governance and excellent service delivery.