As banks raise to complete the recapitalisation programme ahead of the deadline of March ending, Quest Merchant Bank Limited has successfully met the N50 billion minimum capital requirement mandated for merchant banks by the Central Bank of Nigeria (CBN).

The bank stated that the feat strengthens its capital base and reinforces its capacity to support Nigeria's economic transformation.

This milestone reflects investors' continued confidence in the Bank's long-term strategy, strong governance, and sustainable growth outlook.

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It also marks an important step in the Bank's post-divestment evolution under its new ownership, positioning Quest Merchant Bank with the balance-sheet strength needed to execute its next phase of growth.

The bank in a statement said meeting the recapitalisation requirement reinforces its standing as a trusted financial partner in infrastructure, energy, manufacturing, and corporate growth initiatives nationwide.

Acting Managing Director and Chief Executive Officer of Quest Merchant Bank, Afolabi Olorode, described the achievement as a defining moment in the Bank's evolution:

"This milestone marks a significant step forward for Quest Merchant Bank. Meeting the 50 billion capital requirement underscores investors' confidence in our strategy and reflects the strength of our governance and franchise.

He said, "With this strengthened capital position, we are equipped to play an even greater role in financing key sectors of the Nigerian economy, enabling private enterprise, and supporting sustainable economic expansion.

"Our focus remains clear. We will continue to continue to help our clients succeed, while serving as a trusted long-term partner in delivering sustainable growth."