Agusto & Co Upgrades Greenwich Merchant Bank’s Rating to ‘A-’ With Stable Outlook

Kayode Tokede

Greenwich Merchant Bank Limited, has received an upgraded credit rating to ‘A-’ with a Stable Outlook from Agusto & Co., underscoring its strong financial position, prudent risk management, and market dominance under the leadership of its Board and Management. This marks a significant upgrade from the previous “BBB+” rating affirmed in 2024 by Augusto & Co. 

According to a statement signed by the bank’s Head, Corporate Communications, Ozena Utulu, the  upgrade to an A- rating by Agusto & Co., affirms Greenwich Merchant Bank’s resilience, strong operational fundamentals, and capacity for sustained growth. The Bank remains committed to delivering tailored, high-impact financial solutions while advancing its transformation into a diversified financial services group.

 “Greenwich Merchant Bank continues to serve a diverse and high-value clientele in both the public and private sectors, with a strong presence across the following industries, Manufacturing, Agriculture & Soft Commodities, Healthcare, Fast-Moving Consumer Goods (FMCG), Cement, Construction & Infrastructure, Food & Beverages, Telecoms/Technology, Oil & Gas and Financial Services.

In March 2025, Greenwich Merchant Bank received regulatory approval from the Central Bank of Nigeria (CBN) to operate Greenwich Holdings Limited as a non-operating financial holding company. This strategic milestone enables the Group to consolidate its financial services businesses (Greenwich Merchant Bank, Greenwich Asset Management Ltd and Greenwich Securities Ltd and other future businesses) under a unified governance structure, in line with regulatory requirements and long-term growth objectives.”