Wema Bank has received rating upgrades from credit rating agencies, Fitch and GCR.
Fitch upgraded Wema Bank’s National Long-Term Rating to ‘A-(nga)’ from ‘BBB(nga)’, with a Positive outlook, while affirming its Long-Term Issuer Default Rating (IDR) at ‘B-‘.
GCR also upgraded the bank’s National scale long and short-term issuer rating to BBB+(NG)/A2(NG) from BBB(NG)/A3(NG), with a Stable outlook, in what reflects the bank’s performance and resilience amid industry challenges.
