Rating Release

Agusto & Co. upgrades the ratings assigned to Quest Merchant Bank Limited (“Quest MB” or “the Bank”) to “A” (long term) and “A1” (short term), with a stable outlook 

The ratings expire on 30 June 2027.

Agusto & Co. upgrades the ratings assigned to Quest Merchant Bank Limited (“Quest MB” or “the Bank”) to “A” (long term) and “A1” (short term) on the back of the good capitalisation, good liquidity profile and good asset quality. Supporting the ratings is the conclusion of the divestment process, which lingered for almost two years and the Bank’s membership of Custodian Investment Plc, a diversified financial services holding company. However, the ratings are constrained by concentration in the loan book and the deposit base. A ‘3’ ESG score has been attached to the ratings, reflecting our view that environmental, social and governance issues have a material contribution to the Bank’s credit risk profile.