Globus Bank Receives Inaugural Fitch Ratings

LAGOS, NIGERIA — Globus Bank Limited, a national commercial bank in Nigeria, has been assigned its inaugural credit ratings by Fitch Ratings, one of the world’s foremost global credit rating agencies. The Bank has been assigned a Long-Term Issuer Default Rating (IDR) of ‘B-‘ with a Stable Outlook, a Viability Rating (VR) of ‘b-‘, and a National Long-Term Rating of ‘BBB (nga)’ with a Stable Outlook. The rating assignment reflects Globus Bank’s sound financial profile, characterised by zero impaired loans, strong profitability metrics, and an adequate capital position, set against the backdrop of Nigeria’s improving but still challenging operating environment.

A Landmark Moment for a Fast-Growing Institution The Fitch rating is the latest in a series of independent validations of Globus Bank’s growth trajectory; one that has been characterised by consistent financial performance, disciplined risk management, and a rapidly expanding customer franchise. Globus Bank has built a business model that it describes as “phy-gital”, combining traditional relationship banking via its physical branches with digital acquisition channels, driving rapid balance sheet expansion and financial results that have consistently outperformed the industry. In its rating rationale, Fitch acknowledged Globus Bank’s strong asset quality, noting zero impaired loans in 2025 and Stage 2 loans at a modest 3% of gross loans.

The agency highlighted the Bank’s operating profit-to-risk-weighted assets ratio of 10% in 2025, supported by a wide net interest margin, strong non-interest income, and low risk-weighted asset density. The rating coincides with the release of the FY2025 results: Profit Before Tax reached ₦107.7 billion; Profit After Tax stood at ₦82.6 billion while total assets grew 64% to ₦2.58 trillion from ₦1.57 trillion in 2024, reflecting meaningful growth across the Bank’s balance sheet, income lines, and capital base. Fitch noted that customer deposits dominated Globus Bank’s funding profile, accounting for 93% of total funding at end of FY2025, with corporate customers representing 80% of the deposit base.

The agency assessed the Bank’s liquidity coverage of customer deposits as good in both local and foreign currency, with local currency liquidity held primarily in Nigerian debt securities and foreign currency liquidity represented by cash, short-term interbank placements, and…