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June 25, 2023
Fitch Ratings has affirmed Jaiz Bank PLC's (Jaiz Bank) Long-Term Issuer Default Rating (IDR) at 'B-' with a Stable Outlook and its Viability Rating (VR) at 'b-'. Fitch has also affirmed the bank's National Long-Term Rating at 'BBB+(nga)' and assigned a Stable Outlook. Key Rating Drivers Jaiz Bank's IDRs are driven by its standalone creditworthiness, |
June 25, 2023
Fitch Ratings has placed Nigeria-based Coronation Merchant Bank Limited's (CMB) Long-Term Issuer Default Rating (IDR) at 'B-' and Viability Rating (VR) at 'b-' on Rating Watch Negative (RWN). Fitch has also downgraded CMB's National Long-Term Rating to 'BBB-(nga)' from 'BBB+(nga)' and placed it on RWN. The RWN reflects increased pressure on the bank's capital ratios |
June 24, 2023
Fitch Ratings has placed First City Monument Bank Limited's (FCMB) Long- and Short-Term Issuer Default Ratings (IDRs), Viability Rating (VR) and National Ratings on Rating Watch Negative (RWN) following the sharp devaluation of the Nigerian naira. Fitch has simultaneously affirmed seven other Nigerian banks' and three bank holding companies' (BHCs) ratings, all with Stable Outlooks. |
June 24, 2023
This rating action commentary replaces the version published on 6th June 2023 to correct the capitalisation and leverage score. Fitch Ratings has affirmed United Bank for Africa (UBA) Plc's Long-Term Issuer Default Rating (IDR) at 'B-' with a Stable Outlook. Fitch has also affirmed the bank's National Long-Term Rating at 'A+(nga)' and assigned a Stable |
June 16, 2023
Fitch Ratings has affirmed Ecobank Nigeria Limited's (ENG) Long-Term Issuer Default Rating (IDR) at 'B-' with a Stable Outlook. Fitch has also affirmed its National Long-Term Rating at 'BBB (nga)' and assigned a Stable Outlook. Key Rating Drivers ENG's IDR is driven by its standalone creditworthiness, as expressed by its Viability Rating (VR) of 'b-'. |
April 28, 2023
Fitch Ratings has affirmed Ecobank Transnational Incorporated's (ETI) Long-Term Issuer Default Rating (IDR) at 'B-' with a Stable Outlook and Viability Rating (VR) at 'b-'. Fitch has withdrawn ETI's Support Rating and Support Rating Floor as they are no longer relevant to the agency's coverage following the publication of its Bank Rating Criteria on 12 |