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The rating of Rand Merchant Bank Nigeria Limited has been upgraded to “A+” by Agusto & Co.

RATING RELEASE

 

The rating of Rand Merchant Bank Nigeria Limited has been upgraded to “A+” by Agusto & Co.

This rating expires 30 June 2019.

 

The rating assigned to Rand Merchant Bank Nigeria Limited (‘RMBN’ or ‘the Bank’) underpins the Bank’s good asset quality, good liquidity and funding profile, as well as being a member of FirstRand Group (its parent company), a leading financial institution in Africa with an asset base of $96.7 billion (12.59ZAR=$1) and a market capitalisation of R341.5 billion (approximately $27.1 billion) as at 31 December 2017. The rating is constrained by the volatility in earnings in the last 3 years, a weak but improving macroeconomic climate and concentration in the loan book.

 

The opinions expressed in this rating release do not represent investment or other advice and should therefore not be construed as such. Visit www.agusto.com for further information.

 

This rating release is transmitted to you for the sole purpose of dissemination through your newspaper/magazine/agency. The rating release may be used by you in full or in part without changing the meaning or context thereof but with due credit given to Agusto & Co.

This Rating Release is transmitted to you for the sole purpose of dissemination through your newspaper / magazine / agency. The rating release may be used by you in full or in part without changing the meaning or context thereof but with due credit to Agusto & Co.