Rating Release

Agusto & Co. affirms the “A+” (long term) and “A1” (short term) ratings assigned to Fidelity Bank Plc (“Fidelity Bank” or “the Bank”), with a stable outlook  

The ratings expire on 31 December 2026. 

Agusto & Co. affirms the “A+” (long term) and “A1” (short term) ratings assigned to Fidelity Bank Plc (‘Fidelity Bank’ or ‘the Bank’). The ratings reflect the Bank’s good profitability, good liquidity profile supported by a good deposit mix and experienced management team. The acceptable capitalisation, supported by the ₦259 billion private placement in December 2025, was also considered in the assigned ratings. However, the ratings are constrained by obligor and sectoral concentration in the loan book and the challenging macroeconomic environment. A “2” ESG score has also been attached to the ratings, reflecting our view that environmental, social and governance issues have minimal contribution to the Bank’s credit risk profile.