WEMA Bank logo | credits: proshareng.com
Global rating agency, Fitch Ratings, has assigned a long-term Issuer Default Rating of ‘B-’ with a stable outlook to Wema Bank Plc.
It also assigned a short-term IDR of ‘B’ and Viability Rating of ‘B-’ to the bank.
Fitch in its latest publication further rated Wema Bank’s long-term and short-term national ratings at ‘BBB-(nga)’ and ‘F3(nga)’, respectively.
Established in 1945, Wema Bank is Nigeria’s longest surviving indigenous bank.
Wema Bank operates a network of over 130 branches and service stations.
Source: punch
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