Globus Bank Earns First Fitch Credit Rating – InsideBusiness

Globus Bank Limited has received its first credit ratings from Fitch Ratings, marking a major milestone for the Nigerian commercial bank. The global rating agency 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.

The rating reflects Globus Bank’s financial strength, including zero impaired loans, strong profitability and an adequate capital position, despite operating within Nigeria’s improving but challenging economic environment.

Fitch highlighted the bank’s strong asset quality, noting that it recorded zero impaired loans in 2025, while Stage 2 loans represented only 3 per cent of gross loans. The agency also recognised the bank’s operating profit-to-risk-weighted assets ratio of 10 per cent in 2025, supported by a strong net interest margin, non-interest income and efficient risk management.

The rating announcement coincided with the release of Globus Bank’s FY2025 results, which showed Profit Before Tax of ₦107.7 billion, Profit After Tax of ₦82.6 billion, and a 64 per cent increase in total assets to ₦2.58 trillion from ₦1.57 trillion in 2024.

Fitch also noted that customer deposits remain the bank’s main funding source, accounting for 93 per cent of total funding at the end of 2025. Corporate customers contributed 80 per cent of the deposit base, while the agency described the bank’s liquidity position as strong in both local and foreign currencies.

The rating agency further acknowledged Globus Bank’s Fitch Core Capital ratio of 23.7 per cent at the end of 2025 and its successful recapitalisation exercise in early 2026, which raised more than ₦200 billion in paid-up capital to meet the Central Bank of Nigeria…