FBN Quest Merchant Bank has received an “A” rating from Augusto & Co as a result of its good financial standing and strong capacity to meet its obligations to clients.
The investment banking and asset management subsidiary of FBN Holdings Plc also got a stable outlook, the firm said in a statement.
In the rating report released by the foremost rating agency in Nigeria, it was stressed that the Merchant Bank’s good brand equity, capitalisation ratios, acceptable asset quality and experienced management team influenced the rating.
The rating also reflects the bank’s franchise upheld by the affiliation with FBN Holdings Plc, one of Nigeria’s largest financial institutions with interests in commercial banking, capital markets, trusteeship and insurance brokerage.
In keeping with its commitment and performance as a leading corporate and investment banking house, delivering high-end financial products and services, the organisation has been deliberate to deliver strategic sustainable value that will cater to its clients by providing product offerings across a broad array of investment opportunities in targeted sectors of the economy, with a clear focus on building an enduring legacy for future generations.
“We are delighted to have been assigned an “A’’ rating from Agusto & Co. despite the current macroeconomic challenges,” the Managing Director of FBNQuest Merchant Bank, Mr Kayode Akinkugbe, commented.
“We remain focused on being a high-performance organisation whilst providing our clients with valuable and sustainable solution-oriented services,” he assured.
FBNQuest Merchant Bank provides innovative banking solutions for its diverse clients comprising governments, corporate organisations, financial institutions, high net-worth and affluent individuals.
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