Fitch Ratings, a credit rating agency, has issued a stable outlook on Stanbic IBTC Holdings Plc handing the Nigerian financial company its National Long-Term Ratings at ‘AAA’.
The Stable Outlook was extended to the banking subsidiary of the company, Stanbic IBTC Bank Plc. Fitch factored in the role of Stanbic IBTC Holdings’ parent company, Standard Bank Group Limited (SBG), in issuing the favourable outlook.
“Fitch Ratings, a globally recognized credit rating agency, considered Standard Bank Group’s controlling ownership of Stanbic IBTC, its strategic importance as the holding company for leading Corporate and Investment Banking (CIB) and Wealth businesses in Nigeria, and the integral role of Stanbic IBTC Bank in Standard Bank Group’s Nigerian operations.
