Access Bank Plc has sufficient foreign currency liquidity to meet its upcoming $1bn external debt obligations, according to a new assessment by Fitch Ratings.
The global rating agency said in its latest review that the bank is well-positioned to service its maturing hard-currency debts, despite ongoing macroeconomic pressures and tight liquidity conditions in the domestic market.
Fitch affirmed Access Bank’s Long-Term Issuer Default Rating at ‘B’ with a Stable Outlook.
The bank is expected to meet two major repayments in the third quarter of 2026, comprising a $500m Additional Tier 1 Eurobond callable in October and another $500m senior unsecured Eurobond due in September.
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Fitch said the lender’s diversified international operations and foreign currency buffers provide enough strength to absorb the repayments without significant strain.
A Fitch analyst noted that Access Bank’s cross-border expansion strategy has strengthened its financial position and risk absorption capacity.
“The bank’s foreign currency liquidity is sufficient to meet the upcoming repayments,” the analyst said.
The agency also pointed to the bank’s acquisition and integration of Mauritius-based AfrAsia Bank Limited in 2025, saying it added quality assets and improved the group’s operational profile.
However, Fitch warned that capital buffers remain relatively tight despite the strong liquidity position. Access Bank’s capital adequacy ratio stood at 17.4 per cent in Q1 2026, slightly above the regulatory minimum of 15 per cent.
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Analysts noted that redeeming the Eurobonds could temporarily pressure capital ratios due to foreign exchange adjustments, even though the bank continues to strengthen its balance sheet.
Fitch added that the lender is taking steps to reinforce capital, including Tier-2 capital raises and plans to sell minority stakes in some foreign subsidiaries, alongside internal earnings retention.
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The agency also said Access Bank’s asset quality remained stable, with its impaired loan ratio at around three per cent in 2025. It added that exposure to the oil and gas sector remained moderate at nine per cent of gross loans, lower than many domestic peers.
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