Fitch Reaffirms Stanbic IBTC’s AAA(nga) Rating, Unbroken for a Decade

Fitch Ratings has reaffirmed Stanbic IBTC Bank's 'AAA(nga)' National Long-Term Rating, extending its streak of being the highest-rated bank in Nigeria to over a decade. This achievement occurred despite challenging economic conditions, including naira devaluation, rising interest rates, and a central bank-mandated recapitalization.

Despite these factors, Stanbic IBTC's rating has remained unchanged. The bank's stable outlook assessment indicated strong liquidity coverage in both local and foreign currencies, with loans-to-deposits ratio falling to 63% in the first quarter of 2026 from 100% in 2023. Operating profit reached a record high of 12.8% of risk-weighted assets in the same period.

The bank's capital position also strengthened, with the Common Equity Tier 1 (CET1) ratio rising to 18.7% following a N147 billion rights issue in 2025. Fitch also acknowledged the strategic backing of the parent company, Standard Bank Group, which owns a 68.46% stake in Stanbic IBTC. The rating serves different purposes for clients and investors - clients receive confirmation of their deposits' safety with a well-managed institution, while investors receive a data point to support pricing on the bank's debt and equity issuances.

Stanbic IBTC's CEO, Chuma Nwokocha, emphasized that a high rating reflects the institution's consistent performance year after year, highlighting the bank's sound risk management, governance, and operational efficiency throughout various economic cycles. This recognition provides clients and partners with an independent reference point when deciding where to bank.