Agusto & Co. Upgrades Greenwich Merchant Bank’s Rating To ‘A-’ With Stable Outlook

Agusto & Co. has upgraded Greenwich Merchant Bank Limited’s rating to ‘A’ with a stable outlook, reflecting the bank’s strong performance and improved financial position.

This marks a significant upgrade from the previous “BBB+” rating affirmed in 2024 by Augusto & Co.

Head, Corporate Communications, Greenwich Merchant Bank, Ozena Utulu, said that the upgrade to an A- rating by Agusto & Co., affirms Greenwich Merchant Bank’s resilience, strong operational fundamentals, and capacity for sustained growth.

It stated that “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 following industries, Manufacturing, Agriculture & Soft Commodities, Healthcare, Fast-Moving Consumer Goods (FMCG), Cement, Construction & Infrastructure, Food & Beverages, Telecoms/Technology, Oil & Gas and Financial Services.

“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 strategic milestone enables 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, 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.