Greenwich Merchant Bank, a subsidiary of the investment bank has launched services in Nigeria.
The bank which will be focused on legacy investment banking, securities business and corporate bank and treasury market businesses promises to support businesses and investors.
Speaking during the formal launch of the bank in Lagos, Dele Babade, managing director Greenwich Merchant Bank said the key focus of the bank will be to build a local bank that meets international standards, customer service, professionalism and ethics, within and beyond Nigeria.
Babade explained that the bank is focused on generating profit, to give returns to the people who have staked their capital on the venture, adding that they will ensure that they have a sustainable bank which will benefit all stakeholders including staff, depositors and the community at large.
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“Our focus for the next 12 months will be as follows:
For the legacy businesses, we will continue to drive and grow these businesses, increase revenues, seize the opportunity to make the businesses more efficient and grow better in terms of profit growth as well.
“We will leverage our existing and new relationship franchise to help these businesses. In addition to servicing clients in Nigeria, we want to be the first port of call for International investors seeking entry into Nigeria either as Foreign Direct Investors (FDI) or multinational funders to Nigeria on businesses, portfolio equity investors, strategic investors looking to buy into Nigerian companies and diaspora investors looking to invest via our asset management businesses.
“We will embark on digitalisation of the business by investing in mobile app and create a strong media presence and increase the firm’s brand equity.
We hope to be the best at what we are and what we will be doing. We are going to make a platform for scaling and creating new businesses. We will embrace the opportunities that disruptions from COVID- 19 presents”, the managing director assured.
Also speaking on the launch, Kayode Falowo, the Chairman of Greenwich Merchant Bank expressed his appreciation to all those who contributed to the growth and establishment of the institution through the years.
In a statement, he said “Greenwich Trust Limited is the first capital market operator to receive a CBN license, allowing it to convert its operations to a bank. This banking license allows Greenwich Trust Limited now Greenwich Merchant Bank to upscale its existing products and offers diverse services in corporate banking, investment baking, treasury, global markets, securities dealing and asset management to its existing and prospective clients.”
Dele Babade earlier stated that the next phase of growth for the bank is planting the seed of being a full-service financial platform and financial powerhouse in Nigeria.
