Fitch affirms Stanbic IBTC Bank

Fitch Ratings said it affirmed Stanbic IBTC Bank plc's national long- and short-term ratings at AAA(nga) and F1+(nga), respectively.

The national ratings are based on the support the bank derives from Standard Bank Group Ltd.'s majority ownership, Fitch said.

The parent bank's willingness to support Stanbic IBTC Bank is high, although its ability to do so is moderate given the transfer and convertibility risks associated with Nigeria's country ceiling of BB, the agency said.

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