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Business

Troyka Holdings Chair, Biodun Shobanjo, Inducted into Loeries Hall of Fame

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Finance Min, Wale Edun, to Keynote FiBOP Annual Confab Oct 18

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Niteon Unveils First African Manufacturers Bank to Unlock $200bn Digital Export Market

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FG Boosts MSME Financing with NCGC Initiative

In a bid to boost economic growth and development,...

ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

  Konga, Nigeria’s leading composite e-commerce platform has partnered with...

NCC Spotlights Renewable Energy on World Consumer Rights Day

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Governors, NCC Set for Broadband Awareness Forum Oct 20

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VerveLife 5.0 Gears Up for Nairobi, Lagos Events

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Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

The Executive Vice Chairman of the Nigerian Communications Commission,...

Capital Market

SEC DG: Commission Considering Gradual Implementation of ISSB Standards

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ISSB-Aligned Disclosures Will Lower Capital Costs, Attract Global Investors — SEC

The Securities and Exchange Commission (SEC) has unveiled plans...

SEC DG to Cadets:  Invest Early, Long Term to Create Wealth

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SEC DG: Accountability, Transparency will Boost Investor Confidence in Capital Market

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SEC DG: Digital Assets Represent $10tn Opportunity by 2030

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Insurance

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

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Leadway Assurance: Insurance Company of the Year at 2025 BAFI Awards

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Heirs Insurance Group Announces Inaugural Travel Festival: A Call for Inclusive Travel Ecosystem for Africans

Heirs Insurance Group (HIG), Nigeria’s fastest-growing insurance group, has...

Sovereign Trust Insurance Celebrates 2025 Customer Service Week

Sovereign Trust Insurance Plc has been actively involved in...

Leadway: 55 Years of Innovation, Expanding Financial Access, Inclusion Across West Africa

Leadway, one of Nigeria’s foremost non-banking financial services and...

Business

Troyka Holdings Chair, Biodun Shobanjo, Inducted into Loeries Hall of Fame

Nigeria’s foremost advertising leader and Chairman of Troyka Holdings,...

Zenith Bank, NEM, Seplat, AIICO, Dangote Cement, First HoldCo Recognised as Nigeria’s High-Performing Companies

L-R:    Michael Ani, Manager, Investor Relations, Dangote Cement; Oluseyi...

Finance Min, Wale Edun, to Keynote FiBOP Annual Confab Oct 18

The Honourable Minister of Finance and Coordinating Minister of...

Niteon Unveils First African Manufacturers Bank to Unlock $200bn Digital Export Market

Niteon, one of Nigeria's largest digital export marketplaces, has...

FG Boosts MSME Financing with NCGC Initiative

In a bid to boost economic growth and development,...

ICT

Konga Partners Verve to Delight Customers with Free Shopping Vouchers

  Konga, Nigeria’s leading composite e-commerce platform has partnered with...

NCC Spotlights Renewable Energy on World Consumer Rights Day

  The Nigerian Communications Commission (NCC) has concluded arrangements to...

Governors, NCC Set for Broadband Awareness Forum Oct 20

All Nigeria State Governors are set to discuss how...

VerveLife 5.0 Gears Up for Nairobi, Lagos Events

Following a successful series of Verve Life 5.0 satellite...

Telecom Infrastructure Critical to Successful 2023 Elections – Danbatta

The Executive Vice Chairman of the Nigerian Communications Commission,...

Capital Market

SEC DG: Commission Considering Gradual Implementation of ISSB Standards

The Director General of the Securities and Exchange Commission...

ISSB-Aligned Disclosures Will Lower Capital Costs, Attract Global Investors — SEC

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SEC DG to Cadets:  Invest Early, Long Term to Create Wealth

Graduating Cadets of the Nigerian Defence Academy (NDA) have...

SEC DG: Accountability, Transparency will Boost Investor Confidence in Capital Market

The Director General of the Securities and Exchange Commission...

SEC DG: Digital Assets Represent $10tn Opportunity by 2030

The Director General of the Securities and Exchange Commission...

Insurance

13-year-old Rhema-Love Abraham Emerges Winner of 2025 Heirs Insurance Essay Championship

L:R- Funmi Olotu, National Coordinator, National Social Safety-Nets Coordinating...

Leadway Assurance: Insurance Company of the Year at 2025 BAFI Awards

L-R: Managing Director, Leadway Assurance, Gboyega Lesi; Publisher, BuisnessDay...

Heirs Insurance Group Announces Inaugural Travel Festival: A Call for Inclusive Travel Ecosystem for Africans

Heirs Insurance Group (HIG), Nigeria’s fastest-growing insurance group, has...

Sovereign Trust Insurance Celebrates 2025 Customer Service Week

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Leadway: 55 Years of Innovation, Expanding Financial Access, Inclusion Across West Africa

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Stanbic IBTC Reaffirmed at ‘AAA (nga)’ by Fitch Ratings for Over a Decade

Stanbic IBTC Holdings Plc has once again set the benchmark for financial excellence in Nigeria, with Fitch Ratings reaffirming its ‘AAA (nga)’ rating and Stable Outlook, the highest rating on the national scale. 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.

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 report highlights Stanbic IBTC’s strong corporate and investment banking franchise, diversified income streams, robust capital generation, and comfortable liquidity coverage. The Bank’s strong earnings are supported by high non-interest income and a wide net interest margin.

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 achievement, Adekunle Adedeji, Acting Chief Executive, Stanbic IBTC Holdings, 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.”

Wole Adeniyi, Chief Executive, Stanbic IBTC Bank, 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, pension, stockbroking, Fintech, trusteeship insurance, and investment solutions across Nigeria.

As we continue to drive sustainable value creation, we invite our clients, shareholders, and partners to join us in shaping the future of financial services in Nigeria.

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Topics

National Human Development Report 2016: Insecurity Threatens Human Development in Nigeria

“Insecurity remains an ever-present threat to peace and development...

Unity Bank Posts N27B Gross Earnings in H1’22, Records 23% Growth in PAT

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NCC Chief, Umar Danbatta, to Chair Business Journal 15th Anniversary Lecture Oct 27

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Polaris Bank Champions Financial Literacy for Students in Commemoration of World Savings Day 2024

Polaris Bank concluded its nationwide financial literacy initiative with...

Ford Atlas Concept: The Future of Pickups

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JUMIA Seeks Better Infrastructure for e-Commerce in Africa

Francis Dufay, the Managing Director of JUMIA Côte d’Ivoire has called for better infrastructure to foster rapid and sustainable growth of the e-commerce sector in Africa. He said Côte d’Ivoire "has the basics of the different types of infrastructure" needed for e-commerce and "the challenge remains to improve each of these elements." E-commerce is based on four key infrastructures: Internet, logistics, payment and the legal framework. Although JUMIA managed to transcend the limitations inherent to each type of infrastructure, allowing it to route some 2,000 parcels daily, several points would benefit from qualitative evolutions; including: Logistics with a need for; better roads, 3PL offering the highest quality of service at competitive prices and a more comprehensive addressing system. Payment; where the widespread adoption of cashless payment methods such as mobile money for which JUMIA enjoys the expert support of MTN, should be encouraged. The regulatory and organisational framework could benefit from more education for stakeholders for a better understanding of contractual implications. And internet, whose penetration estimated at 8 million people in Côte d'Ivoire, remains curtailed.

Linkage Assurance wins Pearl Sectoral Leadership Award for Insurance

Linkage Assurance Plc has won the 2018 Pearl Sectoral...

Osinbajo, Obaseki Applaud Interswitch Group at 20th Anniversary Grand Finale

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