Fitch Affirms Stanbic IBTC’s ‘AAA’ Rating for 11th Straight Year, Citing Strong Risk Management and Strategic Value
Global credit rating agency Fitch Ratings has reaffirmed Stanbic IBTC Holdings PLC’s national long-term rating at ‘AAA(nga)’ with a stable outlook, marking over a decade of consistent top-tier ratings. This reflects the company’s robust financial health, solid governance, and strong operational framework within Nigeria’s financial sector.
Fitch emphasized the bank’s effective risk management, with a non-performing loan ratio of 4.4%, well below regulatory thresholds, and a high 88% specific loan loss coverage. Liquidity remains healthy in both naira and foreign currencies, with a balanced deposit-to-loan ratio that supports stable operations. These metrics underscore Stanbic IBTC’s financial prudence and sound banking practices.
The agency also pointed to the strategic importance of Stanbic IBTC to its parent company, Standard Bank Group (SBG) of South Africa, which holds a 67.55% stake. Fitch noted that SBG’s strong integration with Stanbic IBTC, its Pan-African ambitions, and shared branding all contribute to the rating. However, it acknowledged that Nigeria’s macroeconomic environment poses some limitations on SBG’s ability to offer support.
Stanbic IBTC executives welcomed the rating with pride. Acting CEO Adekunle Adedeji said the consistent AAA rating “speaks to our legacy of excellence” and reflects the group’s commitment to corporate governance and economic development in Nigeria. Bank CEO Wole Adeniyi credited SBG’s integration and brand unity for the continued high ratings and reaffirmed the bank’s National Short-Term Rating of ‘F1+(nga).’
The affirmation strengthens Stanbic IBTC’s reputation as a leading financial services provider in Nigeria, offering comprehensive solutions in banking, pensions, fintech, insurance, and asset management. It sends a strong signal to investors, regulators, and clients about the group’s long-term stability and strategic relevance within both the local and regional financial markets.
Source: Punch