Fitch assigned the bank a Long-Term Issuer Default Rating (IDR) of ‘B-’ with a Stable Outlook, a Viability Rating of ‘b-’, and a National Long-Term Rating of ‘BBB(nga)’ with a Stable Outlook, reflecting confidence in the bank’s profitability, asset quality, and capital adequacy despite Nigeria’s operating environment.
- +Fitch rates Globus Bank ‘B-’ with stable outlook as profit rises to N82.6bn
The rating comes as Globus Bank posted a strong financial performance for the 2025 financial year, with profit before tax rising to N107.7 billion, while profit after tax stood at N82.6 billion.
The rating comes as Globus Bank posted a strong financial performance for the 2025 financial year, with profit before tax rising to N107.7 billion, while profit after tax stood at N82.6 billion. Total assets climbed by 64 percent to N2.58 trillion, up from N1.57 trillion in 2024, highlighting aggressive balance sheet expansion.
Fitch cited the lender’s exceptional asset quality as a key rating driver, noting that the bank recorded zero impaired loans in 2025, while Stage 2 loans accounted for only 3 percent of gross loans. The agency also highlighted the bank’s strong earnings profile, with an operating profit-to-risk-weighted assets ratio of 10 percent, supported by robust net interest margins and solid non-interest income generation.
On funding, Fitch noted that customer deposits accounted for 93 percent of total funding at the end of 2025, with corporate clients making up 80 percent of the deposit base. Liquidity was assessed as sound in both local and foreign currencies.
The global agency also acknowledged Globus Bank’s strengthened capital position, with its Fitch Core Capital ratio at 23.7 percent at the end of 2025. This was further reinforced by the successful completion of its recapitalisation exercise in the first quarter of 2026, through which the bank raised more than N200 billion in paid-up capital to meet the Central Bank of Nigeria’s minimum capital requirements for national commercial banks.
Elias Igbinakenzua, managing director and chief executive officer of Globus Bank, described the rating as validation of the bank’s long-term strategy and operational discipline.
“This rating is proof of our unwavering commitment to excellence and reflects our determination to lead change in Nigeria’s banking industry,” he said.
The Stable Outlook suggests Fitch expects the bank’s strong profitability and capital buffers to remain intact in the near term. A stronger domestic market share, sustained earnings growth, or an improvement in Nigeria’s sovereign rating could trigger an upgrade.
The Fitch rating adds to earlier upgrades from Agusto & Co. and GCR, strengthening Globus Bank’s profile among investors, correspondent banks, and trade finance counterparties as it expands its footprint nationwide.
