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Stanbic, Absa, FNB well positioned to weather spillovers from US-Iran war – Fitch
South Africa's major banks (Standard Bank, Absa and First National Bank) and their bank holding companies (BHCs) are well positioned to weather spillovers from the US-Iran war, reflecting their strong franchises and diversification, healthy profitability, and sound capital and liquidity buffers, Fitch Ratings has said in a new report.
Fitch upgraded the banks' and BHCs' Long-Term Issuer Default Ratings (IDR) to ‘BB’/Stable, from ‘BB-’/Stable, in June 2026, following the sovereign upgrade, reflecting the easing of the sovereign constraint on their standalone credit profiles.
Funding and liquidity are sound, with the sector’s net stable funding ratio and liquidity coverage ratio at 117% and 161%, respectively, at end-May 2026.
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