Agusto & Co. Assigns “BBB” Credit Rating with a Stable Outlook to Greenwich Merchant Bank

Greenwich Merchant Bank Limited has been rated “BBB” with a Stable Outlook by Agusto & Co.’’

According to Agusto & Co, “this rating reflects Greenwich Merchant Bank’s adequate capitalization, good liquidity profile, satisfactory asset quality rating, experienced management team and strong shareholder support. The Bank’s Capital Adequacy Ratio computed in line with Basel II and Basel III principles remained elevated at 131.68% and are considered good for current levels of business risk.”

Commenting on the rating, the Managing Director, Mr Bayo Rotimi stated that, “the rating validates our business approach which entails leveraging people, technology and processes to sustainably deliver value to our stakeholders in spite of headwinds in the operating environment.”

He added, “deploying a strong risk management framework and proactive response to our clients remain pivotal to our business. Greenwich Trust Limited – the precursor to Greenwich Merchant Bank – commenced operations in June 1994 as a pure play Investment Bank. By September 2020, GTL obtained a Merchant Banking license and subsequently commenced Merchant Banking operations by October 2020. The Bank currently has two wholly owned subsidiaries; Greenwich Asset Management Limited and Greenwich Securities Limited. In 2021, Greenwich Merchant Bank was assigned a BBB- {(NG, Long Term and A3 (NG) Short Term with a stable outlook} rating by Global Credit Rating (GCR).”