• Tuesday, November 28, 2023
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Greenwich Merchant Bank gets investment grade ratings

Greenwich Merchant Bank mulls plan to raise N10bn from Commercial Paper

Greenwich Merchant Bank Limited has been rated BBB- (NG) Long Term, and A3 (NG) Short Term with a stable outlook by global credit rating agency, GCR Ratings.

The assigned rating is premised on Greenwich Merchant Bank’s strong capitalisation, robust liquidity, and sound risk position as noted in the accompanying statement from GCR.

This stable outlook rating reflects GCR’s expectation that Greenwich Merchant Bank would successfully implement its outlined strategic initiatives, expand operational scale over the short to medium term, and sustain capitalisation metrics at strong levels.

Commenting further, GCR asserts that “Asset quality metrics are expected to remain sound over the rating horizon on the back of the bank’s cautious lending approach and stringent credit approval process. Liquidity is expected to remain at robust levels, despite the loan book growth,” adding that ‘Greenwich Merchant Bank’s funding and liquidity is robust and considered appropriate for its current operational scale.’

Read Also: Greenwich Merchant Bank appoints Bayo Rotimi as MD /CEO

In his reaction, the managing director/CEO of Greenwich Merchant Bank, Bayo Rotimi noted that the rating was indicative of the bank’s resilient business model, driven by global best practise and anchored on a dedicated workforce that seeks to create value for internal and external stakeholders. It is to be noted that Greenwich commenced merchant banking operations in October 2020. The bank, while operating as Greenwich Trust Limited during its first 26 years of operations carved a niche for itself as a market leader in the investment banking, financial advisory, asset management and securities trading space.

Greenwich Merchant Bank Limited is a financial services provider that offers high-end financial products and services to select clientele in targeted sectors.