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Credit Rating Assigned – National Rating A
Outlook Stable
Issue Date 27 JULY 2023
Expiry Date 30 JUNE 2024
Previous Rating A
Industry BANKING
Rating Agency AGUSTO & CO. LIMITED, NIGERIA
The rating assigned to FSDH Merchant Bank Limited (‘FSDH or the Bank’) is underpinned by good capitalization, good liquidity, good profitability and an experienced management team. FSDH’s profitability was considerably strengthened because of lower funding cost, an improvement in asset quality and moderated operating expenses despite inflationary pressures. Profit before taxation increased by 34.4% to N5.2billion, the highest in the bank’s history. The rating is however constrained by the fragile state of the Nigerian economy.
02-012702880
02-017008890
To report suspicious/fraudulent activity, please call 02017008901, 02017008902, 02017008903,
02017008904, 02017008905, 02017008906,
02017008907, 02017008908, 02017008909 and 02017008910.
You can also send an email to [email protected].
UAC House (5th-8th floor)
1/5 Odunlami Street, P.M.B 12913