Greenwich Merchant Bank Limited has secured a credit rating boost, moving up to an ‘A-’ with a stable outlook from Agusto & Co., a leading rating agency. This new rating points to the bank’s sound financial base, effective risk oversight, and long-term growth trajectory.
This marks a step up from its previous “BBB+” rating issued in 2024 and reflects the bank’s improved earnings performance and consistent profitability.
In a statement shared with our correspondent on Monday, the bank’s Head of Corporate Communications, Ozena Utulu, noted that the latest rating highlights Greenwich Merchant Bank’s stability and strong ability to continue delivering long-term value.
“This upgrade to an A- rating by Agusto & Co. underscores the bank’s fundamentals, risk management, and strong commitment to its transformation into a diversified financial services group,” Utulu said.
Utulu also emphasized that the bank remains focused on serving a wide range of premium clients operating across key industries such as manufacturing, agriculture, healthcare, consumer goods, construction, telecommunications, energy, and finance.
In March 2025, the Central Bank of Nigeria gave its nod for the formation of Greenwich Holdings Limited, a non-operating financial holding entity. This regulatory approval allows for the integration of the bank and its affiliates—Greenwich Asset Management Limited and Greenwich Securities Limited—under a single corporate umbrella, ensuring streamlined oversight and alignment with long-term goals.
With a legacy spanning over 30 years, Greenwich—formerly operating as Greenwich Trust Limited—is licensed by the Securities and Exchange Commission and brings deep-rooted industry experience to Nigeria’s financial landscape.
The bank reaffirmed its dedication to offering bespoke financial services to both public institutions and private enterprises, all while maintaining its hallmark of innovation and premium service delivery.
The Central Bank of Nigeria has endorsed the group’s transition to a holding company framework, establishing Greenwich Holdings Limited as the parent firm for its expanding financial operations,as previously reported by The PUNCH
