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Impact of Fraud on Capital
Estimated impact of fraud incident on CET1 ratio
Primary Sources
Fitch Downgrades National Development Bank's National ... - Fitch Ratings
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Afreximbank’s Fitch downgrade exposes a deep rift in global finance judgments - Finance in Africa
In January 2026, Fitch Ratings downgraded the African Export-Import Bank to BB+ (Junk status). Not long after, it withdrew its ratings. Ordinarily, this episode might have looked like a routine credit event. Rating agencies reassess risk all the time. But everything about this looked different. And it did. Within days of the downgrade but before the withdrawal of Fitch’s rating, Afreximbank severed its relationship with Fitch altogether, rejecting the agency’s assessment and, more importantly, the framework behind it. What unfolded was an interesting sequence. Fitch’s downgrade triggered a dispute, which then culminated in outright disengagement, especially considering the brewing negative perception of international credit rating agencies by African sovereigns and institutions. This sequence has evolved into something larger than a single credit decision. It has become a defining moment in the relationship between African development financial institutions (DFIs) and the global rating system that shapes their access to capital. PROMOTED At its core, this is no longer just about whether Afreximbank is investment grade. It is about how risk is measured, who defines it, and what happens when a major borrower steps outside that system. The downgrade that triggered a break Fitch Ratings’s downgrade of Afeximbank from investment grade to BB+, commonly referred to as “junk” status, was driven by concerns over rising credit risk. Central to the decision was the bank’s exposure to sovereign borrowers undergoing debt stress, particularly Ghana. In its assessment, Fitch pointed to the treatment of Afreximbank’s loans during Ghana’s debt restructuring, arguing that the episode cast doubt on the bank’s preferred creditor status. This status, typically enjoyed by multilateral development institutions, implies that such lenders are repaid ahead of others during crises. It is a key pillar supporting strong credit ratings. By questioning that assumption, Fitch effectively reclassified the bank’s risk profile. The implication was clear: Afreximbank’s lending to sovereigns could no longer be viewed through the same lens as that of traditional multilateral lenders. But that conclusion raises a deeper tension within development finance. Institutions like Afreximbank are designed to step in precisely when private capital withdraws. If supporting distressed economies becomes grounds for penalisation, it creates an ironic trade-off: the more a development bank fulfils i...
NDB Addresses Fraud Incident and reinforces Financial Strength and ...
National Development Bank PLC (Bank) wishes to provide a further update on the previously disclosed fraud incident, with a clear assurance to customers and all stakeholders. The Bank reiterates, that no customer balances have been affected by this incident. All customer balances remain intact and secure.
NDB Addresses Fraud Incident and reinforces Financial Strength and Stability - Lanka Business News
The Bank urges the public to avoid speculation or the spread of unverified information. Customers seeking clarification are encouraged to contact their nearest NDB branch, relationship manager or customer service on 0117448850 for accurate information. ... Lanka Business News is amongst the leading online Business News portals in Sri Lanka, unique for its focus on contemporary business news relevant across multiple industries operating in the country.
