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Phillips Oduoza Archives - NOVA Merchant Bank Limited

NOVA Merchant Bank set to Begin Commercial Banking, Appoints Adebowale Oyedeji as MD/CEO

NOVA Merchant Bank set to Begin Commercial Banking, Appoints Adebowale Oyedeji as MD/CEO NOVA Merchant Bank Limited, a leading merchant bank in Nigeria, has announced that it is set to begin its conversion to full Commercial Banking Business following its recent requisition of the national commercial banking license from the relevant authorities. To this end,

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Agusto & Co. Affirms NOVA Merchant Bank Limited’s Ratings of Bbb, Outlook Stable

Agusto & Co. has affirmed NOVA Merchant Bank Limited’s rating of Bbb with a Stable Outlook. The rating Agency maintained that the bank was rated based on its sound capitalization, strong liquidity profile and good credit management with a low level of non-performing loans. Stating the rationale for the rating, Agusto & Co. noted in

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DATAPRO® Affirms Nova Merchant Bank Limited’s Long-Term and Short-Term Issuer Ratings of “A+” and “A1” – Stable Outlook

DATAPRO® Affirms Nova Merchant Bank Limited’s Long-Term and Short-Term Issuer Ratings of “A+” and “A1” – Stable Outlook DataPro, the Technology-Driven Credit Rating Agency has affirmed NOVA Merchant Bank Limited’s Long-Term rating of A+ and short-Term ratings of A1 with Stable Outlook. The rating agency explained that the bank was rated as a result of

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NOVA Merchant Bank Announces Appointment of New Directors, Promotes 20% Workforce

NOVA Merchant Bank Announces Appointment of New Directors, Promotes 20% Workforce   NOVA Merchant Bank, a leading merchant bank in Nigeria has announced the appointment of two independent non-executive directors and one non-executive director as it elevates about 20% of its workforce to various grade levels in the Bank. The three new appointees are expected

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GCR affirms Nova Merchant Bank Limited’s National Scale Long and Short-term Issuer Ratings of BBB(NG)/A3(NG)

GCR affirms Nova Merchant Bank Limited’s National Scale Long and Short-term Issuer Ratings of BBB(NG)/A3(NG); Outlook Stable. Global Credit Rating has affirmed NOVA Merchant Bank Limited’s national scale long and short-term ratings of BBB(NG) and A3(NG) respectively, with a Stable Outlook. The ratings agency explained that NOVA was rated on the basis of its strong capital

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NOVA Merchant Bank Grew Earnings By 25.7% YOY, Reflecting Growth in Market Share

NOVA Merchant Bank Grew Earnings By 25.7% YOY, Reflecting Growth in Market Share   Nova Merchant Bank Limited (“NOVA or “the Bank”), announced its Audited Full Year 2021 financial results, showing an impressive 25.7% year-on-year growth in gross earnings to N17.03b (2020: N13.55b), as loans and advances to customers grew by 76.9% year-on-year to N88.38b

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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

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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

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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

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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

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