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Home company news

Access Bank Has Strong FX Liquidity to Service $1bn Debt Maturity – Fitch Ratings

Victoria Attah by Victoria Attah
May 20, 2026
in company news, Money Market
Reading Time: 2 mins read
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Access Bank cuts PTA and BTA to $2,000 per application.
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Fitch Ratings has affirmed that Access Bank Plc maintains sufficient foreign currency liquidity to comfortably meet its upcoming $1 billion external debt obligations scheduled for the third quarter of 2026.

In its latest institutional credit assessment, the global rating agency reaffirmed Access Bank’s Long-Term Issuer Default Rating at ‘B’ with a Stable Outlook.

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The bank faces two major repayments this year: a $500 million Additional Tier 1 (AT1) Eurobond callable in October and another $500 million senior unsecured Eurobond maturing in September.

Adequate Liquidity Buffers

Fitch noted that despite prevailing macroeconomic challenges and tight domestic liquidity conditions, Access Bank’s foreign currency liquidity position remains robust enough to handle the maturities without significant stress.

A senior credit analyst at Fitch highlighted that the bank’s diversified international operations have strengthened its ability to withstand sovereign-related shocks. “Fitch believes that the bank’s foreign currency liquidity is sufficient to meet the upcoming repayments,” the analyst said.

The rating agency also pointed to the positive impact of Access Bank’s 2025 acquisition of Mauritius-based AfrAsia Bank Limited, which added a substantial portfolio of investment-grade assets to its balance sheet and improved its overall operating environment.

Capital Position and Mitigation Plans

While acknowledging solid liquidity, Fitch noted that Access Bank’s standalone Capital Adequacy Ratio (CAR) stood at 17.4% in the first quarter of 2026, offering a relatively modest buffer above the 15% regulatory minimum.

The bank is already taking proactive steps to strengthen its capital base. These include raising Tier 2 capital, boosting internal capital generation, and planning the sale of minority stakes in some of its foreign subsidiaries.

Stable Asset Quality

Fitch reported that Access Bank’s asset quality remains healthy, with its non-performing loans (NPL) ratio stable at 3% at the end of 2025. The bank’s exposure to the oil and gas sector is moderate at 9% of gross loans  significantly below the average of its domestic peers.

Overall, the assessment reflects confidence in Access Bank’s ability to navigate its upcoming debt obligations while continuing its regional expansion strategy, even as it operates in a challenging macroeconomic environment.

Tags: Accessbankeuro
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