Greenwich Merchant Bank Limited has been rated BBB- (NG) Long Term, and A3 (NG) Short Term with a stable outlook by the 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.
According to a statement by the bank on Sunday, the 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.
The statement was titled, “GCR assigns investment-grade ratings to Greenwich Merchant Bank Limited”.
Commenting on the rating, 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.”
In his reaction, the MD/CEO of Greenwich Merchant Bank, Bayo Rotimi noted that 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.
“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 foremost financial services provider that offers high-end financial products and services to select clientele in targeted sectors of the economy and with operations covering Corporate Banking, Private Banking, Investment Banking, Asset & Wealth Management, Treasury & Global Markets and Securities Trading”, he said.
