Susan Abayomi
Fitch Ratings has reaffirmed the National Long-Term Rating of Stanbic IBTC Holdings Plc and its banking subsidiary, Stanbic IBTC Bank Limited, at ‘AAA(nga)’, maintaining the institution’s highest rating on Nigeria’s national rating scale for more than a decade.
The latest affirmation, which carries a Stable Outlook, provides continued assurance to clients and investors regarding Stanbic IBTC’s financial strength, liquidity position, capitalisation and risk management practices.
The rating has remained unchanged despite significant economic developments in Nigeria over the past decade, including naira devaluation, rising interest rates and the Central Bank of Nigeria’s recapitalisation exercise for banks.
Fitch noted that Stanbic IBTC maintained comfortable liquidity coverage in both local and foreign currencies. The bank’s loans-to-deposits ratio declined to 63 per cent in the first quarter of 2026, compared with 100 per cent in 2023, as deposit growth continued to outpace lending.
The rating agency also highlighted the bank’s improved profitability, with operating profit reaching a record 12.8 per cent of risk-weighted assets in the first quarter of 2026.
Stanbic IBTC’s capital position also strengthened during the period, with its Common Equity Tier 1 (CET1) ratio rising to 18.7 per cent following a ₦147 billion rights issue completed in 2025.
Fitch further pointed to the strategic support of Stanbic IBTC’s parent company, Standard Bank Group, which holds a 68.46 per cent stake in Stanbic IBTC. The South African-based financial institution is Africa’s largest bank by assets.
The continued AAA rating is expected to provide an independent indication of Stanbic IBTC’s financial strength for customers while offering investors an important reference point when assessing the institution’s debt and equity instruments.
Commenting on the reaffirmation, Chief Executive of Stanbic IBTC Holdings, Chuma Nwokocha, said the institution’s ability to retain the highest national rating from Fitch for more than a decade demonstrates the strength of its approach to risk management, governance and business operations across different economic cycles.
“A rating reflects whether an institution does what it says it will do, year after year. Holding the highest national rating from Fitch for over a decade tells us our approach to risk, governance, and how we run Stanbic IBTC has remained sound through very different economic cycles. It gives our clients and partners a clear, independent reference point as they choose who to bank with,” Nwokocha said.
Stanbic IBTC, a member of Standard Bank Group, benefits from access to the group’s pan-African network and shared governance standards. The financial institution has also reaffirmed its commitment to engaging Fitch and other rating agencies as part of its regular investor disclosure process.
The latest reaffirmation further underscores Stanbic IBTC’s sustained position within Nigeria’s financial sector and its ability to maintain strong financial and risk-management standards through changing economic conditions.
