Stanbic IBTC Holdings PLC has maintained its position as Nigeria’s premier financial institution after Fitch Ratings reaffirmed the company’s ‘AAA(nga)’ rating with a stable outlook for over ten consecutive years—the highest possible rating on Nigeria’s national scale.
The rating agency cited the bank’s robust operating model, prudent risk management practices, and strategic relationship with its majority shareholder, Standard Bank Group (SBG) of South Africa, which holds a 67.55% stake in the Nigerian lender.
This marks over ten consecutive years of maintaining this top-tier rating, underscoring the Group’s financial strength and commitment to Nigeria’s economic development.
This remarkable 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.
Fitch also noted the Group’s effective handling of credit risk, with its impaired loans ratio remaining below regulatory standards at 4.4%, and a high 88% specific loan loss coverage. Liquidity levels remain comfortable across both local and foreign currencies, and the Bank continues to maintain a reasonable balance between deposits and loan disbursements.
Commenting on the achievement, Adekunle Adedeji, Acting Chief Executive, Stanbic IBTC Holdings, 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.”
Wole Adeniyi, Chief Executive, Stanbic IBTC Bank, 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.”
This reaffirmation further validates Stanbic IBTC’s position as a trusted provider of integrated banking, asset management, pension, stockbroking, Fintech, trusteeship insurance, and investment solutions across Nigeria.
As we continue to drive sustainable value creation, we invite our clients, shareholders, and partners to join us in shaping the future of financial services in Nigeria.