Fitch Reaffirms Stanbic IBTC’s Top Credit Rating for Over Ten Years
Stanbic IBTC Holdings PLC has once again demonstrated its financial resilience and stability, with Fitch Ratings reaffirming its top-tier ‘AAA(nga)’ rating and a Stable Outlook. This marks more than a decade of consistent high ratings, reflecting the Group’s robust financial health and vital role in Nigeria’s economy.
The latest rating underscores the strength of Stanbic IBTC’s operating model, prudent risk management, and close strategic ties to its parent company, Standard Bank Group (SBG) of South Africa, which owns a 67.55% stake. Fitch highlighted the Group’s diversified income streams, solid capital base, and effective liquidity management as key factors supporting this achievement.
Fitch also commended Stanbic IBTC’s handling of credit risk, noting its impaired loans ratio remains well below regulatory thresholds at 4.4%, with a high loan loss coverage of 88%. The Group’s liquidity remains comfortably balanced across both local and foreign currencies, supporting its ongoing capacity to meet financial commitments.
Commenting on the milestone, Adekunle Adedeji, Acting CEO of Stanbic IBTC Holdings, said, “This consistent affirmation at ‘AAA(nga)’ reflects our enduring commitment to excellence, sound governance, and long-term stability. It affirms our position as a trusted financial partner dedicated to supporting Nigeria’s economic development.”
Wole Adeniyi, CEO of Stanbic IBTC Bank, added, “Our integration with SBG, shared branding, and strategic focus across Africa contribute significantly to our top ratings. The Bank’s ‘F1+(nga)’ short-term rating further underscores our strong capacity for timely financial commitments.”
This reaffirmation reaffirms Stanbic IBTC’s status as a leading provider of comprehensive financial services, including banking, asset management, pensions, stockbroking, fintech, trusteeship, insurance, and investment solutions across Nigeria.
As the Group continues to foster sustainable growth, it invites clients, shareholders, and partners to join in shaping the future of Nigeria’s financial landscape.