Tag: Fitch Ratings

Banking

Fitch withdraws ratings on Afreximbank over commercial reasons

Fitch Ratings has withdrawn its ratings on the African Export-Import Bank (Afreximbank) for commercial reasons, saying it will no longer provide ratings or analytical coverage on the Cairo-based multilateral lender. In a statement on Wednesday, the global credit rating agency said the withdrawal follows the termination of its rating relationship with Afreximbank, days after the […]

News

Recapitalisation may push tier-3 banks into mergers – Fitch

Fitch Ratings has warned that Nigeria’s tier-3 banks may have to pursue mergers, acquisitions, or licence downgrades to meet the Central Bank of Nigeria’s new capital requirements. In its report released on Wednesday, the agency noted that while first-tier and tier-2 banks have made significant progress in raising fresh capital, tier-3 banks have lagged, making […]