Agusto & Co has upgraded Greenwich Merchant Bank Limited’s credit rating to ‘A-’ with a Stable Outlook from the previous “BBB+” rating affirmed in 2024 by the indigenous rating firm.

The upgraded rating was premised on the bank’s strong financial position, prudent risk management, and market dominance.

Head, Corporate Communications, Greenwich Merchant Bank, Ozena Utulu, stated that the rating upgrade affirmed the bank’s resilience, strong operational fundamentals, and capacity for sustained growth.

“The bank remains committed to delivering tailored, high-impact financial solutions while advancing its transformation into a diversified financial services group.

“Greenwich Merchant Bank continues to serve a diverse and high-value clientele in both the public and private sectors, with a strong presence across the several industries, manufacturing, agriculture and soft commodities, healthcare, fast-moving consumer goods (FMCG), cement, construction and infrastructure, food and beverages, telecoms/technology, oil & gas and financial services,” Utulu stated.

In March 2025, Greenwich Merchant Bank received regulatory approval from the Central Bank of Nigeria (CBN) to operate Greenwich Holdings Limited as a non-operating financial holding company.

This enabled the group to consolidate its financial services businesses-Greenwich Merchant Bank, Greenwich Asset Management Ltd and Greenwich Securities Ltd and other future businesses, under a unified governance structure, in line with regulatory requirements and long-term growth objectives.

Formerly known as Greenwich Trust Limited (GTL), Greenwich Merchant Bank, a pioneer in Nigeria’s financial advisory and issuing house landscape, registered with the Securities and Exchange Commission (SEC). The bank has evolved over three decades into a market leader, distinguished by its innovation, excellence and sustained growth.