Stanbic IBTC retains AAA national Fitch ratings

Stanbic IBTC Bank Plc and its holding company, Stanbic IBTC holdings Plc, have retained their AAA national ratings by Fitch ratings, the global leader in credit ratings.

The AAA national rating is assigned to an institution with the lowest relative risk.

In arriving at the rating for Stanbic IBTC, Fitch took account of the strong parental support from standard bank group, to which Stanbic IBTC holdings Plc belongs.

Standard Bank Group, according to Stanbic, provides support in such areas as staff training, provision of information technology upgrades and best practice processes, as well as strong corporate governance practices.

The rating has confirmed the strong fundamentals and stability of the bank, especially the ability to meet their financial commitments as they fall due.

The two institutions in a report recorded AAA(NGA) national long-term ratings, which provides a relative measure of creditworthiness for rated institutions in Nigeria.

Stanbic IBTC holdings Plc and Stanbic IBTC Bank received similar ratings in 2016 and February 2017 after a thorough examination of its credit process and financial results.

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