Stanbic IBTC Holdings PLC Maintains AAA(nga) Rating for Tenth Year

Fitch Ratings for the tenth consecutive year reaffirmed Stanbic IBTC Holdings PLC with its AAA(nga) rating and Stable Outlook underscoring the Groups financial strength and commitment to Nigerias economic development.

The company in a statement said, Fitchs latest rating action reflects the strength of Stanbic IBTCs operating model, the Groups prudent risk management practices, and its strategic importance to its parent company, Standard Bank Group (SBG) of South Africa, which holds a 67.55 per cent shareholding in Stanbic IBTC.

This achievement underscores Stanbic IBTCs unwavering commitment to financial stability and excellence. 

The report highlights Stanbic IBTCs strong corporate and investment banking franchise, diversified income streams, robust capital generation, and comfortable liquidity coverage. 

The Banks strong earnings are supported by high non-interest income and a wide net interest margin.

Commenting on the achievement, Acting Chief Executive, Stanbic IBTC Holdings, Adekunle Adedeji,  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.

Chief Executive, of Stanbic IBTC Bank, Wole Adeniyi,  added: SBGs 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.