Credit rating firm Fitch Ratings has affirmed Stanbic IBTC Holdings PLC at an ‘AAA(nga)’ rating with a stable outlook, marking over 10 consecutive years of maintaining this top-tier ranking.

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 of South Africa, which holds a 67.55 per cent shareholding in Stanbic IBTC.

In the rating commentary, Fitch highlighted the strong shareholder support that the financial holdco has, saying, “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. However, SBG’s ability to provide support is constrained by Nigerian country risks.”

Fitch also noted the group’s effective handling of credit risk, with its impaired loans ratio remaining below regulatory standards at 4.4% and a high 88% specific loan loss coverage. Liquidity levels remain comfortable across both local and foreign currencies, and the bank continues to maintain a reasonable balance between deposits and loan disbursements.

Commenting on the rating action, Acting Chief Executive, Stanbic IBTC Holdings, Adekunle Adedeji, said, “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, “SBG’s 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.”

This reaffirmation further validates Stanbic IBTC’s position as a trusted provider of integrated banking, asset management, pensions, stockbroking, fintech, trusteeship insurance, and investment solutions across Nigeria.