Global Credit Rating (GCR), Africa’s rating agency, has revised Quest Merchant Bank Limited outlook to ‘Stable’ from its previous ‘Rating Watch Negative.’
According to the rating agency, the revised stable outlook is anchored on the bank’s sound risk profile, improved capitalisation and strong liquidity, alongside the successful transition of its ownership structure following the recent acquisition by EverQuest LLP after the divestment by FBN Holdings.
The rating agency also highlighted the bank’s strong presence within Nigeria’s merchant banking sector, where Quest Merchant Bank accounted for c.30percent of the sub-sector’s total assets as of 31 December 2025, reinforcing its position as one of the country’s leading merchant banking institutions.
“This outlook revision is a strong signal of confidence in the future of Quest Merchant Bank and the progress we have made in strengthening our organisation over the last year,” Afolabi Olorode, acting managing director/CEO, Quest Merchant Bank Limited, stated.]
Read also: FBNQuest rebrands corporate identity into Quest Merchant Bank Limited
He added that the bank strengthened its market position following GCR Ratings’ affirmation of the bank’s national scale issuer ratings of BBB(NG) and A3(NG).
Accordingly, Quest Merchant Bank’s asset quality and liquidity profile also remained key strengths underpinning the ratings affirmation.
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The bank maintained a non-performing loan
(NPL) ratio of 3.2 percent, significantly below the broader banking industry average, while continuing to sustain strong liquidity metrics and resilient earnings performance.
GCR also recognised the strategic value of the Bank’s relationship with Custodian Investment Plc, noting the potential for
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