Quest Merchant Bank commits to deepening capacity for value creation

Afolabi Olorode, the acting managing director/CEO, Quest Merchant Bank Limited, has reiterated the bank’s commitment to deepening capacity for value creation within the Nigerian financial ecosystem.

“We remain focused on deepening our capabilities, delivering greater value to our clients and building a high-performing institution that is well positioned to capture the opportunities ahead,” he said in a statement.

The bank recently recorded a GCR Ratings’ upgrade of its national scale issuer ratings to BBB+(NG) and A2(NG), alongside a revision of its outlook from ‘Stable to Positive.’

“This upgrade is a strong recognition of the progress Quest Merchant Bank has made in strengthening our business and positioning the Bank for sustainable growth,” Olorode stated.

The ratings action reflects continued progress in the bank’s financial strength, market position and growth trajectory.

According to Olorode, the upgrade will further reinforce confidence in the bank’s strategy and its ability to deliver sustainable growth.

“It reflects the confidence in the strength of our organization, our financial fundamentals and the strategy we have put in place for the next phase of our journey,” he stated.

The rating agency also highlighted the bank’s strong presence within Nigeria’s merchant banking sector, where Quest Merchant Bank accounted for about 30 percent of the sub-sector’s total assets as of December 31, 2025, reinforcing its position as one of the country’s leading merchant banking institutions.

According to the agency, the bank’s financial profile was a key driver of the upgrade, reflecting prudent risk management, a strong liquidity profile, and resilient earnings performance.

The bank maintained a non-performing loan (NPL) ratio of 3.2 percent as of December 31, 2025, while its liquidity position remained strong as of June 30, 2026.

Accordingly, GCR expects Quest Merchant Bank’s financial profile and competitive position to remain stable over the next 12 to 18 months, supported by its scale, earnings capacity and continued growth.

However, Olorode reiterated that the upgrade to BBB+(NG)/A2(NG) and the revision of the outlook to ‘Positive’ further reinforce the bank’s strong market position, financial resilience and growth potential.

According to him, the positive outlook reflects expectations that the bank’s market position and profile will continue to strengthen as its operations scale.