Quest Merchant Bank earns stable outlook from GCR

By Chinwendu Obienyi
 
Quest Merchant Bank Limited has strengthened its standing in Nigeria’s merchant banking space after GCR Ratings revised its outlook to Stable from Rating Watch Negative, while affirming the bank’s national scale issuer ratings of BBB(NG) and A3(NG).
The ratings action reflects improved confidence in the bank’s financial position, liquidity strength, capital base and growth prospects following a period of ownership transition and strategic repositioning.
GCR said the Stable Outlook was supported by Quest Merchant Bank’s sound risk profile, improved capitalization and successful completion of its ownership transition after EverQuest LLP acquired the instituti...