Quest Merchant Bank Limited successfully held its 11th Annual General Meeting (AGM), during which shareholders approved the Bank’s Audited Financial Statements for the year ended December 31, 2025, and commended the institution on its strong financial performance, successful recapitalisation, and long-term strategic direction.
The recent AGM follows the successful acquisition of the Bank by Everquest Acquisition LLP a special purpose vehicle led by Custodian Investments Plc, as well as the attainment of the Central Bank of Nigeria’s ₦50 billion minimum capital requirement ahead of the regulatory deadline.
Quest Merchant Bank delivered a strong financial performance for the 2025 financial year, with gross earnings increasing by 29% year-on-year to ₦81.5 billion, driven by growth in net interest income and stronger asset yields. Profit before tax expanded by 23%, while operating efficiency improved significantly, with the Bank’s cost-to-income ratio improving by 2.3 percentage points.
The Bank also maintained strong liquidity and asset quality indicators while further strengthening its governance, risk management, and compliance frameworks in response to evolving regulatory expectations and market dynamics.
The Ag. Managing Director/CEO, Afolabi Olorode, stated that the Bank’s performance reflects a deliberate strategy anchored on operational excellence, client-centricity, innovation, and disciplined execution.
“Our strategic focus remains clear: to build a leading merchant bank anchored on strong capital, innovation, execution excellence, and deep client relationships. With our enhanced capital base and the launch of our 2026–2030 strategic plan, Quest Merchant Bank is exceptionally well-positioned to support critical sectors of the economy while delivering superior value to shareholders and stakeholders alike,” he said.
He added that the Bank would continue to deepen its capabilities across corporate and investment banking, wealth management, and global markets, while accelerating investments in technology, talent development, and operational resilience.
Shareholders at the AGM also approved key resolutions, including the payment of dividend, election of directors, and amendments to the Bank’s Memorandum and Articles of Association.
In line with its commitment to inclusive development and sustainable impact, the Bank expanded its corporate social responsibility initiatives during the year through financial literacy programmes, youth empowerment initiatives, healthcare interventions, and inclusive education partnerships.
Looking ahead, Quest Merchant Bank reaffirmed its commitment to strategic expansion, innovation, and sustainable finance while continuing to support Nigeria’s economic transformation agenda through strategic financial intermediation and advisory services.
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