Press Releases - NOVA Merchant Bank Limited

Shareholders Commend NOVA’s Growth Trajectory, Approve 800M Dividend

NOVA Merchant Bank held its 4th Annual General Meeting in Lagos where shareholders commended the board and management for its impressive performance over the years. At the meeting held on the 30th of June 2021 at the Head Office, No. 23 Kofo Abayomi Street Victoria Island, shareholders approved the payment of N800m as dividend for

Published: 14th Jul, 2021

NOVA Merchant Bank Lists Bond on the Nigerian Stock Exchange

NOVA Merchant Bank recently concluded the listing of its N10 billion 7-Year Subordinated Unsecured Bond on the Nigeria Stock Exchange. This milestone was marked by the Bank partaking in the closing gong ceremony held remotely with Mr. Nath Ude MD/CEO NOVA Merchant Bank, Mr. Olumide Bolumole Divisional Head Listings Business NGX Limited, Mr. Peter Ashade

Published: 11th Jun, 2021

GCR Upgrades NOVA Merchant Bank’s Rating

Global Credit Rating (GCR), has upgraded NOVA Merchant Bank’s Long Term Issuer Rating from BBB- to BBB with a stable outlook. The reasons given for the upgrade include the Bank’s strong capitalisation, risk position, liquidity and evolving brand. The upgrade in the Bank’s rating comes shortly after Datapro recently reaffirmed the “A” rating of it’s

Published: 26th May, 2021

NOVA Merchant Bank Bond Reaffirmed as “A” Rated

In recognition of the strong underlying fundamentals driving its business, Datapro reaffirmed an “A” rating on the Bank’s N10 billion 7-Year Subordinated Unsecured Bond issued under its N50 billion debt issuance programme. The bond has a fixed coupon rate of 12% per annum. This achievement follows the recent publication of the Bank’s financial results for

Published: 19th May, 2021

NOVA Merchant Bank’s Growth Trajectory Continues as it Declares N3.49B in PAT

NOVA Merchant Bank Limited has released its audited results for the financial year ended December 31st 2020, recording impressive growth across its major financial lines. The Bank declared a profit after tax of N3.49bn in 2020 compared to N1.65bn in 2019 which represents a 112% increase. All the key financial parameters recorded major improvement over

Published: 20th Apr, 2021

NOVA Merchant Bank Promotes Staff, Flags-Off Executive Trainee Scheme

NOVA Merchant Bank, a leading merchant bank in Nigeria, began 2021 on a high note as it announced several promotions for its employees who excelled in the performance of their responsibilities. The Bank announced on Monday that the promotions are in line with its goal of building a high performance culture, adding that they cut

Published: 27th Jan, 2021

NOVA Wins ‘Bond Offering of the Year’ at BAFI Awards

NOVA Merchant Bank has emerged the winner of the ‘Bond Offering of the Year’ prize at the BusinessDay Bank and other Financial Institutions (BAFI) Awards. It clinched the prize for its extremely successful N10bn seven year subordinated unsecured bond which was oversubscribed by 300 percent. In a well-attended ceremony comprising of Bank CEOs, captains of

Published: 14th Dec, 2020

NOVA Merchant Bank Appoints Nath Ude as Acting Managing Director / Chief Executive Officer

NOVA Merchant Bank, a leading merchant bank in Nigeria, is pleased to announce the appointment of Mr. Nath Ude as its Acting Managing Director/Chief Executive Officer effective 3rd of October 2020 subject to approval by the Central Bank of Nigeria. Nath is a seasoned Banker whose experience cuts across three continents in world class financial

Published: 6th Oct, 2020

NOVA Merchant Bank’s Debut N10bn Bond Oversubscribed by 300%

NOVA Merchant Bank, a leading merchant bank in Nigeria, has announced the successful issuance of its N10 billion 7-Year Subordinated Unsecured Bond under its N50 billion debt issuance programme. The transaction represents NOVA’s first bond issuance in the debt market and was oversubscribed by 300 percent. The offer which opened on June 30, 2020 following

Published: 23rd Jul, 2020

2020 International Women’s Day Celebrations

Yesterday (March 7, 2020) at our Power Breakfast International Women’s Day conference. We had our Head corporate Banking, Funke Okoya and Dr. Mistura Olowookere spoke real issues associated with women in relations to, health, work life balance, self improvement, self awareness and personal growth. We are #EachforEqual. See more images in our 2020 International

Published: 8th Mar, 2020