Global credit rating agency Fitch Ratings has upgraded Wema Bank’s National Long-Term Rating from BBB(nga) to A–(nga), reflecting improved financial stability and a stronger growth outlook for the bank.
The upgrade was announced via Wema Bank’s official statement on X on Thursday, confirming that the new rating has shifted the bank’s outlook from stable to positive.
Additionally, the Long-Term Issuer Default Rating (IDR) was affirmed at B-, reinforcing Wema Bank’s standing in Nigeria’s financial sector.
