Fidelity bank card banner Camano banner
NOVA Merchant Bank rated Investment Grade by 2 leading rating agencies

By News Express on 15/04/2019

Views: 356

•NOVA Merchant Bank Chairman Phillips Oduoza
•NOVA Merchant Bank Chairman Phillips Oduoza

In furtherance of its plans to scale its operation this year, NOVA Merchant Bank Limited, in yet another milestone, has received an investment grade rating from both Agusto & Co (Bbb) and Global Credit Ratings (BBB-). The reasons given for the bank’s rating include the strength of the Board and management team, robust capitalisation, prudent risk profile, good asset quality and strong liquidity. 

This achievement follows the recent publication of the Bank’s financial results where it declared a profit after tax of N1.15bn for the year ended December 31, 2018, an increase from N510.6m in 2017. 

Anya Duroha, the Managing Director/CEO, commented: “The award of investment grade ratings by two leading rating agencies is another significant milestone in the history of the Bank. It further assists us in our plans to scale up our operations this year and deliver value to our customers and all other stakeholders.”

Mr. Phillips Oduoza, the Chairman of NOVA Merchant Bank, further noted: “These ratings are further validation of the strength of the foundation which has been laid for the continued future success of the bank. On behalf of the Board, I will like to commend the management team for all their effort in achieving this milestone debut rating record.”

NOVA Merchant Bank will continue to focus on delivering on its overarching philosophy of “New Thinking, New Opportunities” to sustainably grow its business as it seeks to assist its clients achieve their strategic objectives and re-establish merchant banking as a key economic driver in the country.

 

Source News Express

Posted 15/04/2019 05:14:02 AM

 

 

CLASSIFIED ADS

 

You may also like...
Rivers APC declares Buhari a son of the...

Gov. Ambode leads dignitaries to honour ex-CBN Spokesman...

NSCDC registers 1,212 PGCs, generates N800m in 2018...

Lagos Govt. approves funding for MSMEs

Nationwide teachers’ strike looms

2015 Elections: A Time to Choose…4, By Olusegun...

$2.1 Billion Arms Fund: Ensure deportation of beneficiaries’...

Debts: Road to second slavery

I didn’t ban Ajimobi from Oyo APC guber...

VP slot: Ebonyi residents, Igbo groups laud Atiku’s...

Sudden death: Angry youths attack NTA team at...

Gunmen shoot 15 dead in Kaduna •10 killed...

 

Latest News Anxiety over Buhari’s failure to constitute cabinet Fear grips lawmakers as FG begins probe of constituency projects Kogi 2019 Guber: 20 APC governorship aspirants move against Yahaya Bello Ihedioha suspends Imo LG chairmen, councillors, appointees; dissolves ISIEC, statutory boards, all government agencies Why we can’t disclose asset declarations by presidents, governors — CCB Insecurity: Police to install CCTVs nationwide Magu warns LG chairmen, councillors against corruption UNICEF condemns use of children as human bombs in Nigeria’s North-East 10,665 killed in Nigeria in 2018: Report Prevail on FG to convoke a constitutional conference, Intersociety begs EU, US, Canada, others •Identifies 8 missing points in EU Report on 2019 Polls Akeredolu sacks three commissioners No court order stopped investigation into Kano Emirate funds, says anti-graft agency

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (494,639 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (425,586 views) Shameless Genevieve Nnaji exposes breasts in public (365,430 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (312,074 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (276,332 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (244,049 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (234,039 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (215,922 views) 10 cars more expensive than Jets (212,895 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (204,510 views) Lagos plane crash: Journalist releases victims’ names (184,569 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (183,898 views)

 

NNPC Financial reports February 2019

CBN banner advert

UBA Wise Savers Promo

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (93) Business & Economy (4,312) Business Verdict (73) Columnists (1,051) Complaints & Requests (95) Enterprise & Opportunities (209) Entertainment (623) Features (761) Global Business Monitor (379) ICT Monitor (53) International (3,599) Interview (184) Live Commentary (30) Love Matters (162) Maggie's Blog (305) News (47,471) Opinion (1,260) Pidgin (17) Politics (11,033) Religion (1,023) Sports (2,044) Stock Watch (39) AMA & Al Jazeera Global Update

 

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera