FBNQuest Merchant Bank, the investment banking and asset management subsidiary of FBN Holdings Plc, has once again received an “A” rating from Agusto & Co., which affirms the Merchant Bank’s stable outlook as a financial institution.
The rating was assigned in the recently released rating report by Agusto & Co, a foremost rating agency in Nigeria and it recognises the Bank’s good brand equity, capitalisation ratios, acceptable asset quality and experienced management team.
FBNQuest Merchant Bank is in good financial standing and has a strong capacity to meet its obligations to clients.
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 clear focus on building an enduring legacy for future generations.
Speaking on the rating, Kayode Akinkugbe Managing Director, FBNQuest Merchant Bank stated that “We are delighted to have been assigned an “A’’ rating from Agusto & Co. despite the current macroeconomic challenges. We remain focused on being a high-performance organisation whilst providing our clients with valuable and sustainable solution-oriented services.
“FBNQuest Merchant Bank is committed to providing innovative banking solutions for its diverse clients, which comprises governments, corporate organisations, financial institutions, high net-worth and affluent individuals.
“We create value for our clients and shareholders by offering financial advice, investment, and risk management products, managing funds, administering assets, and trading securities.”
