Abiodun JIMOH
Stanbic IBTC Holdings PLC has once again earned Fitch Ratings’ highest national credit rating, ‘AAA(nga)’, with a Stable Outlook — marking over a decade of consistent top-tier performance.
The reaffirmation by Fitch underscores the Group’s solid financial fundamentals, prudent risk management, and strategic importance to its parent company, Standard Bank Group of South Africa, which holds a 67.55% equity stake.
In its latest rating action, Fitch pointed to Stanbic IBTC’s strong operating model, robust capital generation, diversified income base, and healthy liquidity coverage. The Bank’s performance continues to be driven by high non-interest income and a wide net interest margin, supported by a strong corporate and investment banking franchise.
Stanbic IBTC also maintained an impaired loans ratio of 4.4%, well within regulatory thresholds, with specific loan loss coverage at a high 88%. Liquidity remains sound across both naira and foreign currency portfolios.
Adekunle Adedeji, Acting Chief Executive of Stanbic IBTC Holdings, described the rating as a testament to the Group’s consistent execution and long-term vision. “Being affirmed at ‘AAA(nga)’ for over a decade reflects our unwavering focus on governance, risk discipline, and national development,” he said.
Wole Adeniyi, Chief Executive of Stanbic IBTC Bank, highlighted the benefits of the Group’s alignment with Standard Bank Group. “Our integration with SBG and Pan-African strategy reinforces our stability. The Bank also retained its National Short-Term Rating of ‘F1+(nga)’, indicating a strong capacity for timely financial commitments.”
Stanbic IBTC continues to deliver integrated financial solutions across banking, asset management, pensions, stockbroking, Fintech, insurance, and trusteeship, reinforcing its position as a trusted partner in Nigeria’s financial sector.
