NGX admits Nova Merchant Bank N10 billion bond which is due in 2027

NIGERIA – The Nigerian Exchange Group (NGX), has announced the listing of Nova Merchant Bank Plc’s N10billion (US$24.32m) Bond. The bond listed is the NOVAMBL Investments SPV N10billion Series I, 7-year 12percent subordinate unsecured fixed rate bond due 2027 under the company’s N50billion Bond Issuance Programme. “We are delighted to commemorate the listing of Nova Merchant Bank’s debut listing of…

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NOVA Merchant Bank records US$9.16m profit after tax in 2020

NIGERIA – NOVA Merchant Bank Limited has released its audited results for the financial year ended December 31st, 2020, recording impressive growth across its major financial lines. The Bank declared a profit after tax of N3.49 billion (US$9.16m) in 2020 compared to N1.65 billion (US$4.33m) in 2019 which represents a 112% increase. All the key financial parameters recorded major improvement…

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