Fast Credit Limited, a prominent player in Nigeria’s financial landscape, has been awarded long-term investment-grade ratings by two leading credit agencies.
Agusto & Co. assigned the company a “Bbb” rating with a stable outlook, while DataPro rated it “BBB+” with an A2 stable outlook for the 2024/2025 period.
The ratings, according to Agusto & Co. and DataPro, reflect Fast Credit’s solid profitability, strong capitalization, a highly skilled management team, and a suite of innovative financial products tailored to meet diverse customer needs.
The ratings committees arrived at their decision after a comprehensive evaluation of the company’s financial performance, corporate governance practices, risk management framework, regulatory compliance, and its robust medium- to long-term outlook. The ratings also affirm Fast Credit’s strong credit profile, ample liquidity, and low default risk.
Commenting on the ratings, Emeka Iloelunachi, Managing Director and CEO of Fast Credit Limited, expressed the company’s satisfaction with the recognition.
“Fast Credit is delighted with the investment-grade ratings from both agencies, which underscores our consistent growth and success over the years,” Iloelunachi said.
He highlighted the company’s key strengths, which include strong profitability, a well-capitalized structure, a seasoned management team, high asset quality, and a diverse range of innovative products.
Fast Credit Limited has positioned itself as a customer-centric institution, offering a variety of credit and investment solutions designed to address the financial needs of individuals and businesses.
Its product portfolio includes:
- Payroll Lending: Tailored for public and private sector employees.
- Consumer Loans: Designed for individuals seeking flexible financing options.
- SME and Corporate Lending: Catering to small businesses and corporations.
In the investment segment, Fast Credit offers attractive products with competitive interest rates ranging from:
- Fast Credit Investment Note: High-yield wholesale funds for institutional investors.
- Fast Credit Thrive: A retail product offering high returns with a lock-up feature.
- Fast Credit Affluent & Pearl: Savings solutions with attractive returns.
A standout offering is the KiddiesSwag account, a fully digitalized product for children and young adults aged 0-18. The account encourages early saving habits and provides benefits such as coverage for government-approved exam fees, including Common Entrance, JSSCE, WAEC, and Cambridge exams as well as a chance to win a scholarship. The KiddiesSwag account requires a minimum deposit of ₦100,000 and offers a 10% annual interest rate.
Iloelunachi emphasized that these ratings represent a milestone in the company’s journey toward achieving strategic initiatives that provide it with a competitive edge in Nigeria’s financial sector.
“Our commitment to delivering innovative solutions and maintaining strong financial health continues to be the driving force behind our success,” he added.
For more information on Fast Credit’s offerings, visit www.fastcredit-ng.com, call 02018885046, or contact them on WhatsApp at +234 813 110 5876.
