Global credit rating agency Fitch Ratings has once again affirmed Stanbic IBTC Holdings PLC at an ‘AAA(nga)’ rating, maintaining the top-tier national long-term rating with a stable outlook. This marks over a decade of uninterrupted high ratings for the Nigerian financial services group, reflecting the company’s robust operating framework, solid risk governance, and strategic relevance within the Standard Bank Group (SBG) of South Africa.
According to Fitch, the rating reaffirms the institution’s stability and financial soundness, supported by prudent credit risk controls, consistent profitability, and liquidity strength. The agency noted the critical role Stanbic IBTC plays in SBG’s pan-African strategy, given its leadership across several financial verticals in Nigeria, including corporate and investment banking, asset management, and insurance.
Fitch’s statement read:
“Fitch believes SBG has a high propensity to provide support to Stanbic IBTC and Stanbic IBTC Bank. This reflects the issuers’ leading corporate and investment banking and insurance and asset management businesses in Nigeria and their importance to SBG’s pan-African strategy, as well as SBG’s controlling ownership, strong integration, and shared branding.”
The agency, however, added that this support could be constrained by Nigeria’s macroeconomic risks, such as foreign currency volatility, inflation, and political uncertainty. Nevertheless, Stanbic IBTC’s credit profile remains solid, anchored by long-standing corporate governance practices and disciplined execution.
Strong Financial and Risk Metrics
Fitch highlighted Stanbic IBTC’s continued effectiveness in managing credit risks, with an impaired loan ratio of 4.4%, well below the regulatory limit. The bank also boasts an 88% specific loan loss coverage, showcasing strong provisioning. Liquidity remains healthy in both naira and foreign currencies, and the Group has maintained a balanced deposit-to-loan ratio, reinforcing its capacity to meet financial obligations promptly.
Stanbic IBTC Bank also retained its National Short-Term Rating of ‘F1+(nga)’, the highest possible score on that scale, reflecting its exceptional ability to meet short-term financial commitments.
Executive Reactions to the Rating
Adekunle Adedeji, Acting Chief Executive of Stanbic IBTC Holdings, celebrated the reaffirmation as a symbol of operational consistency and institutional trust.
“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,” Adedeji said.
Similarly, Wole Adeniyi, Chief Executive of Stanbic IBTC Bank, emphasized the value of group-level synergy with the Standard Bank Group.
“SBG’s strong integration with Stanbic IBTC, shared branding, and pan-African strategy significantly contribute to our consistent top ratings. This recognition reinforces our credibility and inspires us to maintain excellence in service delivery,” he noted.
A Trusted Financial Services Powerhouse
Stanbic IBTC Holdings continues to operate as a diversified financial services group, providing a wide range of offerings across banking, pensions, asset management, stockbroking, fintech, trusteeship, and insurance. The firm has built a reputation for transparency, innovation, and risk-conscious growth, making it one of Nigeria’s most trusted financial institutions.
The reaffirmation by Fitch not only reinforces investor confidence in the group but also strengthens its positioning as a key player in Nigeria’s financial ecosystem, particularly amid ongoing economic reforms and global financial volatility.
As Nigeria navigates a complex economic recovery process, the resilience and institutional strength demonstrated by firms like Stanbic IBTC will be critical in stabilizing the financial system and advancing sustainable development goals.
