S&P Global has affirmed the creditworthiness of nine major Nigerian banks, maintaining a stable outlook throughout the year despite concerns about the effects of the country’s credit risks driven by economic pressures.
The rated banks include Access Bank, First Bank of Nigeria, Fidelity Bank, First City Monument Bank, Guaranty Trust Bank, Stanbic IBTC Bank, Standard Chartered Bank Nigeria, United Bank for Africa, and Zenith Bank
Ecobank’s performance was also assessed but it was allotted a CCC negative rating, indicating very high credit risk and a low capacity to repay debts.