Stanbic IBTC Reaffirmed at ‘AAA (nga)’ by Fitch Ratings

Nume Ekeghe

Fitch Ratings for the tenth consecutive year reaffirmed Stanbic IBTC Holdings PLC with its ‘AAA(nga)’ rating and Stable Outlook underscoring the Group’s financial strength and commitment to Nigeria’s economic development.

The company in a statement said, “Fitch’s latest rating action reflects the strength of Stanbic IBTC’s operating model, the Group’s prudent risk management practices, and its strategic importance to its parent company, Standard Bank Group (SBG) of South Africa, which holds a 67.55 per cent shareholding in Stanbic IBTC.

“This achievement underscores Stanbic IBTC’s unwavering commitment to financial stability and excellence. The report highlights Stanbic IBTC’s strong corporate and investment banking franchise, diversified income streams, robust capital generation, and comfortable liquidity coverage. The Bank’s strong earnings are supported by high non-interest income and a wide net interest margin.”

Commenting on the achievement, Acting Chief Executive, Stanbic IBTC Holdings, Adekunle Adedeji,  stated: “This milestone speaks to our legacy of excellence, consistency, and long-term focus. Being affirmed at ‘AAA(nga)’ for over a decade by a global rating agency like Fitch speaks volumes about our corporate governance structures, risk controls, and commitment to supporting the Nigerian economy. We are proud of what this means, not just for Stanbic IBTC, but also for our clients, shareholders, and partners.”

Chief Executive, of Stanbic IBTC Bank, Wole Adeniyi,  added: “SBG’s strong integration with Stanbic IBTC, shared branding, and Pan-African strategy significantly contribute to our consistent top ratings. Stanbic IBTC Bank also retained its National Short-Term Rating of ‘F1+(nga)’, reflecting our exceptional capacity for timely financial commitments.”