Greenwich Merchant Bank Limited

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Greenwich Merchant Bank Limited (2021-09)
  • Greenwich Merchant Bank Limited
  • Year : Oct 2021
3 Tokens
USD 300.00
Summary

Greenwich MB’s funding and liquidity is robust and considered appropriate for its current operational scale. As of 30 June 2021, the bank was predominantly funded by equity and customer deposits, constituting 84.6% and 15.4% of the funding base respectively. Although the deposit book remained moderate at N4.9bn as of 30 June 2021, management expects to improve deposit mobilisation through leveraging digital platform, strategic alliances with financial technology companies (“fintechs”) and increase value proposition to customers.

Additional Information

Greenwich MB, formerly Greenwich Trust Limited, is a wholesale financial institution, with operations covering corporate banking, investment banking, advisory services, private banking and wealth management, and global markets and treasury. The bank was incorporated on 25 February 1992 and operated for over two decades with an investment banking franchise before converting to a merchant bank on 14 September 2020. The ratings being upgraded is unlikely over the ratings horizon. However, if Greenwich MB substantially scales up its operations and banking franchise to levels approaching the merchant banking peers, while also maintaining very strong capitalisation, robust liquidity, and clean asset quality metrics on a sustainable basis we could improve the score in 18 to 24 months.

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