GCR upgrades Fidelity Bank rating on stronger capital position

GCR Ratings has upgraded Fidelity Bank Plc’s national scale long term issuer rating to A Plus (NG), from A (NG), while affirming its short term issuer rating at A1 (NG). The outlook remains stable.
The upgrade reflects Fidelity Bank’s significantly strengthened capital position following the addition of NGN227.0 billion to its total core capital. GCR also recognised the bank’s strong domestic market position, stable funding base and healthy liquidity profile.
Fidelity Bank’s competitive position remains a key rating strength, supported by its strong domestic franchise and nearly four decades of operating experience. With total assets of NGN10.5 trillion and an estimated 8.0 percent sh...