FCMB Asset Management Upgraded to A(NG)/A1(NG) by GCR Ratings

FCMB Asset Management Limited (FCMBAM), the asset management arm of FCMB Group Plc, has received an upgrade to its national scale long-term and short-term issuer ratings from A-(NG) and A2(NG) to A(NG) and A1(NG) respectively, by GCR Ratings (GCR). The outlook on the ratings remains stable.

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This upgrade is an important external validation of a strategy we have pursued with discipline over many years: building an investment franchise that performs reliably, governs itself rigorously, and earns trust in every market cycle.

The upgrade is attributed to FCMBAM’s competitive resilience and financial discipline, coupled with the strengthened credit profile of FCMB Group Plc. GCR specifically cited FCMBAM’s decade-long history of strong performance, well-established brand, diversified product offerings, and robust distribution network as key factors supporting its standalone strength. These strengths are further bolstered by consistent earnings growth and a disciplined, unleveraged balance sheet.

According to GCR, FCMBAM's competitive position is enhanced by its extensive track record, strong brand, established product and geographical reach, and cross-selling opportunities. The rating agency noted that FCMBAM ranks among Nigeria's top five asset managers, holding an estimated 5% share of the market as of December 31, 2025. The company's financial performance was a significant factor, with revenue growing by 30% and operating cash flow increasing by 13%, allowing the business to be fully funded without debt.

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It speaks to the strength of our membership of FCMB Group Plc and to a culture that holds itself to local and global standards of risk management and capital stewardship.

James Ilori, CEO of FCMB Asset Management Limited, stated that the upgrade validates the company's long-term strategy of building a reliable investment franchise with rigorous governance and trust across market cycles. He emphasized the strength derived from being part of FCMB Group Plc and a culture committed to local and global standards of risk management and capital stewardship. Ilori expressed the company's intention to lead Nigeria's asset management industry in regulatory compliance, digital transformation, and client outcomes as the sector evolves.

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As Nigeria’s asset management industry enters a new era of higher capital thresholds and rising investor expectations, we intend to lead from the front, ahead of regulatory timelines, ahead in digital transformation, and ahead in the outcomes we deliver for the clients who trust us to assist them in achieving their investment objectives.