Bank Expands Profit Base By 23%, Hits N81.5bn Gross Earnings In 2025

Quest Merchant Bank Limited has recorded a 23 per cent growth in profit before tax for the 2025 financial year, alongside a strong rise in gross earnings to N81.5 billion, reflecting improved asset yields, stronger interest income and enhanced operational efficiency.

The performance was disclosed at the bank’s 11th Annual General Meeting (AGM), where shareholders commended the institution’s financial results, successful recapitalisation exercise and strategic growth direction.

Shareholders also approved the bank’s audited financial statements for the year ended December 31, 2025, as well as other key resolutions presented at the meeting.

The AGM came shortly after the completion of the bank’s acquisition by Everquest Acquisition LLP, a special purpose vehicle led by Custodian Investments Plc, and the bank’s attainment of the Central Bank of Nigeria’s N50 billion minimum capital requirement ahead of the regulatory deadline.

Financial highlights showed that gross earnings grew by 29 per cent year-on-year to N81.5 billion, driven largely by stronger net interest income and improved yields on earning assets. The bank also reported a notable improvement in efficiency, with its cost-to-income ratio improving by 2.3 percentage points during the review period.

Speaking at the AGM, the Acting Managing Director and Chief Executive of Quest Merchant Bank, Mr. Afolabi Olorode, said the results reflected a deliberate focus on operational excellence, innovation and strong client relationships.

“Our strategic focus remains clear: to build a leading merchant bank anchored on strong capital, innovation, execution excellence and deep client relationships,” Olorode said.
He added that with its strengthened capital base and the rollout of a 2026–2030 strategic plan, the bank is well-positioned to support key sectors of the economy while delivering improved value to shareholders and stakeholders.

According to him, Quest Merchant Bank will continue to deepen its presence in corporate and investment banking, wealth management and global markets, while also increasing investments in technology, talent development and operational resilience.

The bank also maintained strong liquidity and sound asset quality indicators during the year, alongside continued improvements in governance, risk management and compliance frameworks in line with regulatory expectations.

Looking ahead, management reaffirmed its commitment to strategic expansion, innovation and sustainable finance as it seeks to play a stronger role in financial intermediation and advisory services within Nigeria’s evolving economy.