Agusto & Co. has upgraded the rating of Rand Merchant Bank Nigeria Limited (RMBN).
The rating assigned to RMBN reflects its good profitability, good asset quality, good capitalisation for current business risks and good liquidity, with operations driven by an experienced management team.
The bank’s profile is further buoyed by demonstrated support from its parent company, FirstRand Limited in various capacities, spanning risk management, customer referrals and liability generation.
“Given RMBN Nigeria’s improved earnings and strengthened profitability profile as well as its good liquidity track record, we hereby upgrade the bank’s rating to “Aa-”, reflective of a financial institution of sound financial capacity and strong ability to meet its obligations”- the rating agency said
RMBN has over 15 years of transactional experience in Nigeria ranging from advisory roles on infrastructure projects, mergers and acquisitions to the funding of various transactions across multiple sectors.
The bank has an extensive pool of investment banking talent, including fixed income, currency and commodities experts who understand the Nigerian and broader African landscape. Over the past six years, it has created a core client base of solid local companies, multinationals and financial sponsors. Using a targeted approach, the bank has meaningfully supported our clients through different economic cycles and will continue to do so.
RMB’s vision and primary business objective is to create sustainable value, unique solutions and superior economic returns for our clients and shareholders.
