Globus Bank Limited, a prominent Nigerian commercial institution, has received its first credit ratings from Fitch Ratings. The global agency assigned a Long-Term Issuer Default Rating of ‘B-‘ with a Stable Outlook, a Viability Rating of ‘b-‘, and a National Long-Term Rating of ‘BBB (nga)’, also with a Stable Outlook.
These ratings underscore the bank’s solid financial health, highlighted by an absence of impaired loans, robust profitability, and sufficient capital levels. Fitch noted that the bank’s hybrid business model, which blends physical branch networks with digital channels, has fueled significant balance sheet growth. By the end of 2025, the bank reported a Profit After Tax of ₦82.6 billion and a 64% increase in total assets to ₦2.58 trillion.
Fitch pointed to the bank’s strong funding structure, where customer deposits comprise 93% of the total, as well as a healthy Fitch Core Capital ratio of 23.7%. Furthermore, the bank successfully finished its recapitalization in early 2026, securing over ₦200 billion to meet regulatory requirements set by the Central Bank of Nigeria.
Elias Igbinakenzua, the Managing Director and CEO of Globus Bank, remarked that these ratings affirm the institution’s dedication to its strategic goals. With existing ratings from Agusto & Co. and GCR already in place, this addition from Fitch improves the bank’s standing among international investors and global financial partners. Looking forward, the bank plans to expand its physical footprint of roughly 50 branches by adding ten more locations by the conclusion of 2026.
