Lagos, Nigeria - Quest Merchant Bank Limited, the investment banking and asset management subsidiary of FBN Holdings Plc., successfully held its 8th Annual General Meeting in Lagos recently.
Mallam Bello Maccido, Chairman of the Board of Directors, expressed his satisfaction with the Bank's performance: "2022 was a year filled with unprecedented challenges, but Management's resilience and the Board's keen oversight during the year resulted in the improved performance recorded."
Key Performance Metrics
- 312.5% year-on-year increase in Profit Before Tax (PBT)
- 137.7% increase in net interest income
- 34.4% increase in Gross Earnings
- Cost optimization initiatives kept operating expenses relatively flat
Awards and Recognition
- Infrastructure and Project Finance House of the Year
- Best Asset Manager (EMEA Finance Africa Banking Awards)
- "A" rating from Agusto & Co.