FBNQuest anchors 2021 growth on Optimisation, Innovation, Partnerships — Chairman

By Kayode Tokede

The Chairman of FBNQuest Merchant Bank, Mallam Bello Maccido, has expressed that the bank  outlook for 2021 is anchored on three important pillars – Optimisation, Innovation and Partnerships.

The Chairman in a statement stated that the bank aims to ensure greater value creation through a renewed people agenda, as well as innovation through the transformation of operations with a great focus on digital channels.

Speaking at the recent Annual General Meeting (AGM) of  the Merchant Bank, he commended the continued commitment of the Board Members, Management and Staff to the growth of the organisation.

Managing Director/CEO, FBNQuest Merchant Bank, Kayode Akinkugbe in a statement said, “The Bank commenced a new three year-strategy cycle in 2020, having set clear objectives and aspirations founded on the premise of a temperate macroeconomic and operating environment.

“We believe our 2020 performance reflects the effectiveness of the strategy, while our diversified business platform enabled us to withstand the shocks, remain competitive and mitigate downside risks posed to any single business line.”

FBNQuest Merchant Bank, the investment banking and asset management subsidiary of FBN Holdings Plc, has declared a profit before tax (PBT) of N6.52 billion for the year ended December 31, 2020.

This represents a 57.3 per cent increase from the figure recorded in the previous year.

This strong performance was despite significant macro-economic headwinds linked to COVID-19 which saw Nigeria slip into a recession for the second time in less than 5 years. However, robust growth in key business lines, especially in fixed income trading, corporate banking and asset management supported the strong performance recorded by the organisation.

FBNQuest remains committed to delivering value to its clients and has consistently reported growth across all its businesses.