Stanbic IBTC Holdings PLC and Stanbic IBTC Bank PLC, both members of the Standard Bank Group have been rated high by global credit rating agency, Fitch Ratings, based on the support from their South Africa based parent company.
According to Fitch Ratings, both organisations retained their ratings as a result of the vital role they play in Standard Bank Group’s primary operations in West Africa as well as its size and high operational integration.
The rating agency reaffirmed that Stanbic IBTC Holdings PLC and its subsidiary, Stanbic IBTC Bank PLC, have retained their National Long-Term’ AAA (nga)’ and National Short-Term’ F1+(nga)’ ratings.
The National Long-Term’ AAA (nga)’ and NationalShort-Term’ F1+ (nga)’ Ratings are the highest possible ratings on Fitch’s rating scale.
The leading provider of credit ratings, commentary and research for global markets, said the National Long-Term Ratings on Stanbic IBTC Bank’s N30 billion senior unsecured notes and the National Long- and Short-Term Ratings on the N150 billion structured note programme for senior unsecured debt are in line with the Bank’s issuer ratings.
Stanbic IBTC Holdings PLC is a subsidiary of the Standard Bank Group. Its principal operating entity is Stanbic IBTC Bank, a mid-tier commercial bank, which represented 96 per cent of the holding company’s consolidated assets at the end of last year.
