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 rating is premised on Greenwich’s strong capitalisation, liquidity and risk position as noted in the accompanying statement from GCR.
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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.
“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,” said GCR.
Commenting, the bank’s MD/CEO, Bayo Rotimi, said the rating is indicative of the bank’s resilient business model, driven by global best practice and anchored on a dedicated workforce that seeks to create value for internal and external stakeholders.
The merchant bank opened in October 2020 from its earlier firm, Greenwich Trust Limited, which had operated for 26 years in the investment banking, financial advisory, asset management and securities trading space.
