New Telegraph 
Fitch Ratings has reaffirmed Stanbic IBTC Holdings PLC at ‘AAA(nga)’ with stable outlook, the highest rating on the national scale.
According to a press release, “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.”
The statement also said that: “Fitch’s latest rating action reflects the strength of Stanbic IBTC’s operating model, the Group’s prudent risk management practices, and its strategic importance to its parent company, Standard Bank Group (SBG) of South Africa, which holds a 67.55% shareholding in Stanbic IBTC.”
“This remarkable achievement underscores Stanbic IBTC’s unwavering commitment to financial stability and excellence,” the statement added.
The statement further said that the Fitch report highlights, “Stanbic IBTC’s strong corporate and investment banking franchise, diversified income streams, robust capital generation, and comfortable liquidity coverage,” adding that, “the Bank’s strong earnings are supported by high non-interest income and a wide net interest margin.”
