Agusto & Co, a Pan African credit rating firm, has affirmed A-rating to FBNQuest Merchant Bank, the investment banking and asset management subsidiary of FBN Holdings Plc.
The rating was assigned in the recently released rating report by Agusto & Co, the rating affirms the Merchant Bank’s stable outlook as a financial institution in Nigeria and recognises the bank’s good brand equity, capitalisation ratios, acceptable asset quality, and experienced management team.
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.
“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,” said Kayode Akinkugbe, managing director, FBNQuest Merchant Bank in a statement.
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“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,” he said.
“We create value for our clients and shareholders by offering financial advice, investment, and risk management products, managing funds, administering assets, and trading securities” he added.
Agusto &Co is a Pan African leader in credit ratings and credit reports. They have assigned well over 1,500 ratings across various sectors and their ratings are accepted globally with a wide client base utilizing their ratings as a benchmark to measure business success.
