FBNQuest Merchant Bank has formally concluded its ownership transition following its divestment from First HoldCo Plc and subsequent acquisition by EverQuest Acquisition LLP, an investor group led by Custodian Investment Plc. The development marks a major turning point for the institution as it positions itself for a new phase of growth under fresh leadership.
Acting Managing Director, Afolabi Olorode, described the change in ownership as a significant milestone that underscores the bank’s strong fundamentals, consistent performance and long-term prospects. He noted that despite the transition, the bank’s operational structure, client relationships and leadership framework remain fully intact and uninterrupted.
Olorode reaffirmed the bank’s commitment to delivering exceptional value to customers and stakeholders, emphasizing that the new ownership would help deepen market leadership and reinforce efforts to build a sustainable financial institution. He expressed appreciation to stakeholders for their trust over the years, adding that FBNQuest Merchant Bank is focused on entering a new era defined by stability, growth and strengthened service delivery.