Access Bank Plc has been described as financially strong enough to repay its upcoming $1 billion foreign debt obligations due later in 2026.
This assurance came from global credit rating agency Fitch Ratings in its latest assessment of the bank’s financial health. The agency also maintained Access Bank’s Long-Term Issuer Default Rating at “B” with a Stable Outlook, showing confidence in the bank’s overall stability despite economic challenges.
According to the report, Access Bank is expected to repay two major foreign currency debts in the third quarter of 2026. These include a $500 million senior unsecured Eurobond maturing in September and another $500 million Additional Tier 1 Eurobond that becomes callable in October.
Fitch explained that the bank currently has enough foreign currency liquidity to comfortably handle these repayments without causing financial pressure or panic among investors.
The agency noted that Access Bank’s strong international presence has helped improve its ability to withstand economic shocks. Its operations across several countries have created additional financial buffers that support stability, especially during periods of uncertainty in Nigeria’s economy.
A senior analyst at Fitch stated that the bank’s foreign currency reserves remain strong enough to cover the upcoming obligations. The analyst added that Access Bank’s expansion strategy has strengthened its overall financial position in recent years.
One of the major factors highlighted was the bank’s acquisition and consolidation of Mauritius-based AfrAsia Bank Limited in 2025. According to Fitch, the deal added more investment-grade assets to Access Bank’s balance sheet and improved the bank’s operating environment.
Despite the positive outlook, Fitch also pointed out that the bank’s capital buffer remains relatively tight. Access Bank recorded a Capital Adequacy Ratio of 17.4 per cent in the first quarter of 2026, only slightly above the regulatory minimum requirement of 15 per cent.
Financial experts explained that the repayment of the foreign debt instruments could temporarily reduce the bank’s core capital position because the debts are currently recorded using exchange rates that existed before the naira devaluation.
An investment banking strategist noted that redeeming the Eurobonds may create short-term pressure on capital ratios. However, the strategist added that the bank has already started taking steps to strengthen its capital position.
According to the analyst, Access Bank has raised additional tier-two capital and is also considering selling minority stakes in some of its foreign subsidiaries to improve its financial cushion.
Fitch further revealed that the bank’s loan quality remains stable. Its impaired loans ratio stood at three per cent at the end of 2025, indicating that bad loans are still under control.
The agency also observed that Access Bank’s exposure to the oil and gas sector accounted for only nine per cent of its total gross loans. This level is lower than what is seen among many competing banks in Nigeria, reducing the bank’s overall risk exposure.
The latest assessment is expected to reassure investors and stakeholders that Access Bank remains financially resilient despite global economic pressures and Nigeria’s challenging foreign exchange environment.
