Fitch upgrades Wema Bank’s Nationwide Ranking to A–(nga), outlook raised to optimistic 

International credit standing company Fitch Rankings has upgraded Wema Bank’s Nationwide Lengthy-Time period Ranking from BBB(nga) to A–(nga), reflecting improved monetary stability and a stronger progress outlook for the bank.

The improve was introduced by way of Wema Bank’s official assertion on X on Thursday, confirming that the brand new ranking has shifted the bank’s outlook from secure to optimistic.

Moreover, the Lengthy-Time period Issuer Default Ranking (IDR) was affirmed at B-, reinforcing Wema Bank’s standing in Nigeria’s monetary sector.

Fitch and GCR Rankings Sign Stronger Market Confidence 

In response to the ranking improve, Wema Bank expressed confidence in its market place, stating, “We’re proud to share that Fitch Rankings has upgraded Wema Bank’s Nationwide Ranking from BBB(nga) to A–(nga) with a Constructive Outlook. This milestone displays our dedication to stability, progress, and excellence.”

Equally, African ranking company GCR Rankings additionally upgraded Wema Bank’s Nationwide Scale Lengthy and Quick-Time period Issuer Rankings to BBB+(NG)/A2(NG) from BBB(NG)/A3(NG), sustaining a secure outlook for the bank.

Reaffirming its dedication to long-term resilience, Wema Bank commented, “GCR Rankings has upgraded Wema Bank’s nationwide ranking to BBB+(NG)/A2(NG), a testomony to our 80-year legacy of resilience, excellence, and belief. We stay dedicated to constructing a future stuffed with prospects, with you by our aspect.” 

What it’s best to know 

• Final month, Fitch Rankings affirmed Fidelity Bank Plc’s Lengthy-Time period Issuer Default Ranking (IDR) at ‘B’ and upgraded its Nationwide Lengthy-Time period Ranking to ‘A+(nga)’ from ‘A(nga)’.
• The improve, introduced on Might 29, 2025, displays the bank’s strengthened capital buffers and improved profitability, signaling continued optimistic momentum in its efficiency.
• In keeping with Fitch, the ranking enchancment is underpinned by Fidelity Bank’s profitable capital increase via a rights problem and public supply, alongside a notable rise in profitability, pushed by larger curiosity earnings and a secure base of low-cost present and financial savings deposits.

One of many key drivers of the improve is powerful capitalization. In keeping with Fitch, Constancy’s Fitch Core Capital (FCC) ratio rose to 29.9% on the finish of 2024, effectively above the regulatory minimal.

The company added that extra capital elevating efforts are underway to satisfy the ₦500 billion minimal capital requirement for internationally licensed banks earlier than the 2025 deadline.

Strengthening Market Place 

The twin ranking upgrades from Fitch and GCR point out rising confidence in Wema Bank’s monetary power, operational effectivity, and long-term stability.

Because the bank continues to increase its providers and reinforce its market technique, the optimistic outlook positions Wema Bank as one in every of Nigeria’s key gamers in banking and monetary providers.