Stanbic IBTC Pension Managers Limited has received an Initial Management Quality Rating of MQ2(NG)(mq) with a stable outlook from Global Credit Ratings (GCR).
GCR, the rating agency, gained expertise in assessing the creditworthiness of financial institutions, corporates and government entities, and has established itself as a leading rating agency in Africa. GCR adopted a Management Quality (MQ) rating system that ranked from the highest rating of ‘MQ1’ to the lowest rating of ‘MQ5’.
These ratings served as indicators of an entity’s organizational structure, risk management capabilities, and operational controls. They also hinted at markets of the overall quality, management characteristics and operating practices of organisations.
Dr Demola Sogunle, Chairman, Board of Directors of Stanbic IBTC Pension Managers, expressed delight in the rating, saying that it was evidence of the company’s dedication to achieving excellence in all areas of its operations.
“We are very delighted to have received this rating from GCR, which recognizes our concrete efforts to maintain the highest standards of corporate governance, risk management, and financial performance,” Demola said.
Olumide Oyetan, Chief Executive, Stanbic IBTC Pension Managers, attributed the rating and success of the organisation to its commitment to better serve customers without compromising operational excellence.