…As GCR affirms stable outlook
James Ilori, the chief executive officer of FCMB Asset Management Limited, has reiterated the company’s commitment to deliver globally aligned investment solutions that support capital preservation for Nigerians.
According to him, the company’s investment solutions also help to boost income generation, and long-term capital growth, which is underpinned by rigorous risk management and governance standards.
Ilori made this known on the sidelines of the recent GCR Ratings, which affirmed FCMB Asset Management’s stable outlook that upgraded the company to national scale long-term and short-term issuer ratings of A(NG) and A1(NG), from A-(NG) and A2(NG).
“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,” Ilori said in a statement.
According to him, the upgrade speaks to the strength of the brand’s membership of FCMB Group Plc and to a culture that holds itself to local and global standards of risk management and capital stewardship.
“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,” Ilori stated.
GCR Ratings (GCR), a leading pan-African credit rating agency stated that the upgrade is anchored on FCMBAM’s competitive resilience and financial discipline, alongside the strengthened credit profile of FCMB Group Plc.
GCR highlighted the asset management arm of FCMB Group Plc, decade-long track record of strong performance, well-established brand franchise, diversified product suite, and robust distribution network as key drivers of its standalone strength.
According to the rating agency, these are further supported by consistent earnings growth and a disciplined, unleveraged balance sheet.
GCR added that the brand’s competitive position is supported by its relatively long track record, strong brand franchise, and established product and geographical distribution network.
It noted that FCMBAM ranks among the top five asset managers in Nigeria, with an estimated 5 percent share of a fragmented market, as at December 31, 2025.
According to the agency, the company’s financial performance underpinned the upgrade, with revenue growing by 30 percent and operating cash flow increasing by 13 percent, enabling the business to be fully funded without recourse to debt.
Accordingly, liquidity strengthened further, with liquidity sources-vs-uses improving to 5.0x as of December 2025, from 3.6x a year earlier, while the EBITDA margin edged up to over 58 percent.