FSDH Merchant Bank has officially begun operations as a Custom Duty Collecting Bank in Nigeria.
This, according to a statement, has paved the way for other Merchant Banks across the country to be afforded the same opportunity.
It revealed that as early as 2018, the bank commenced talks with the Nigeria Customs Service Board (NCSB) to obtain a license to operate as a custom duty collecting bank and in May 2019, the approval was granted same.
“The merchant bank is also the first in Nigeria to re-structure into a holding company, and in November 2012, became the first discount house to become a merchant bank in Nigeria.
“With services ranging from corporate banking, to investment banking, and prestige banking, FSDH Merchant Bank has over the years become a financial supermarket that delivers expert financial services within Nigeria and to select clientele, in order to create long term sustainable wealth.
“Taking into account the bank’s sustained record over the past year; of good capitalisation, good liquidity, good profitability, and an experienced management team, FSDH Merchant Bank has been rated A and A- for the year 2019 by prestigious agencies like Agusto & Co. Limited, and Global Credit Ratings Co. (GCR).
“FSDH Merchant bank maintains the status quo as being an innovative industry leader.
“As another decade slowly comes to an end, we celebrate FSDH Merchant Bank for constantly championing and paving the way for innovation in the financial services industry across Nigeria,” the statement added.