Access Bank secures B- IDR with stable outlook from Fitch
Rating agency, Fitch, has affirmed Access Bank Plc’s Long-Term Issuer Default Rating (IDR) at ‘B-‘with a Stable Outlook. It also affirmed the bank’s National Long-Term Rating at ‘A+(nga)’ and assigned a Stable Outlook. According to Fitch, Access Bank’s National Long-Term Rating balances its leading franchise against weaker core capitalisation and profitability than higher-rated peers. Again, Access Bank’s IDRs, it said, are driven by its standalone creditworthiness, as expressed by its ‘b- ‘Viability Rating (VR). Leading Franchise Access Bank is Nigeria’s largest bank group, accounting for 16% of banking system assets at end-2022. According to Fitch, it has acquired several small...
