Quest Merchant Bank Achieves Stable Rating from GCR
Quest Merchant Bank has strengthened its market position with a stable rating of BBB(NG) and an A3(NG) issuer rating from GCR Ratings, alongside a revised stable outlook. This rating marks a significant milestone for the bank, which has undergone a transformation period reflecting renewed confidence in its financial strength and market position.
As of December 31, 2025, Quest Merchant Bank holds 30% of Nigeria's merchant banking sector assets. The bank's successful capital raise of N42.9 billion in March 2026 aligns with the Central Bank of Nigeria's revised minimum capital requirements.
GCR Ratings noted the bank's strong liquidity profile and sound risk management, with a non-performing loan ratio of 3.2%, significantly below the industry average. Afolabi Olorod, Managing Director and CEO of Quest Merchant Bank, expressed confidence in the bank's future, emphasizing its commitment to delivering innovative solutions that support economic growth across various sectors.
Plus234Feed summary based on reporting from Punch Newspapers. Read the original report below.
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