Rand Merchant Bank Nigeria Limited

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Rand Merchant Bank Nigeria Limited (2021-07)
  • Rand Merchant Bank Nigeria Limited
  • Year : Jul 2021
3 Tokens
USD 300.00
Summary

RMBN’s strong capitalisation is a key rating strength, with capital adequacy ratio (“CAR”) consistently exceeding the regulatory threshold by a significant margin. As at FY20, CAR was robust at 47.5% (FY19: 50.1%), relative to the regulatory minimum of 10%, thus providing adequate headroom for loss absorption. Similarly, GCR computed core capital ratio stood at 40.9% at FY20 (FY19: 50.2%) and is expected to remain strong over the next 12-18 months on the back of the bank’s solid internal capital generation and cautious risk asset growth.

Additional Information

RMBN is a wholly owned subsidiary of FirstRand. Leveraging its membership of the Group, the bank has continued to harness the financial strength and global reach of the Group to support its corporate clients along the international trade value chain. Positively, the evolution of the bank's fully owned subsidiary (RMB Nigeria Nominees Limited), which was incorporated in January 2019, provided additional impetus for service/product diversification and earnings accretion.

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