Fitch rating agency rates gtbank b stable outlook

That's great news!

Fitch Ratings, a leading global credit rating agency, has assigned a "B" long-term issuer default rating (IDR) to Guaranty Trust Bank (GTBank) with a stable outlook.

Here's a breakdown of the rating:

The stable outlook reflects Fitch's expectation that GTBank will maintain its strong financial fundamentals, including its robust capitalization, solid asset quality, and stable funding profile. The agency also notes that the bank's profitability is expected to remain strong, driven by its efficient cost structure and growing non-interest income.

Fitch's rating is based on several factors, including:

  1. GTBank's strong capitalization, with a Tier 1 capital ratio of 18.4% as of December 2022.
  2. The bank's solid asset quality, with a non-performing loan (NPL) ratio of 5.4% as of December 2022.
  3. GTBank's stable funding profile, with a liquidity coverage ratio of 143.4% as of December 2022.
  4. The bank's strong profitability, with a return on equity (ROE) of 24.1% as of December 2022.
  5. GTBank's good governance and risk management practices.

Overall, the Fitch rating is a testament to GTBank's strong financial performance and its ability to navigate the challenges in the Nigerian banking industry.