Rand Mer­chant Bank Eyes In­creased Ac­tiv­i­ties in Nige­rian Cap­i­tal Mar­ket


The Man­ag­ing Direc­tor of Rand Mer­chant Bank (RMB) Nige­ria, Mr. Michael La­bie yes­ter­day said the com­pany would in­crease its ac­tiv­i­ties in the Nige­rian cap­i­tal.

Speak­ing at the Nige­rian Stock Ex­change (NSE) to sound the clos­ing gong in com­mem­o­ra­tion of the bank’s fifth an­niver­sary in Nige­ria, La­bie said RMB cur­rently trade in the mar­ket through its stock­broking arm.

“You may be aware that we have RMB Stock­bro­kers play­ing in the mar­ket. We do trade in the mar­ket. But be­yond that, we want to help com­pa­nies that want to list. We are part of the is­su­ing houses for the planned MTN is­sue and a few oth­ers that are in the pipe­line. We are col­lab­o­rat­ing to come out with dif­fer­ent prod­ucts that will trade in the mar­ket,” La­bie said.

The RMB boss, who com­mended the ef­forts of the NSE to deepen the mar­ket, said the Ex­change was work­ing on sev­eral de­riv­a­tives that would at­tract more in­vest­ments to the bourse.

“The ex­change is busy work­ing on sev­eral de­riv­a­tives prod­ucts. I think when those prod­ucts come, they will help to broaden the prod­ucts that of­fered in the mar­ket and in­crease the vol­ume that get traded. Also, the Pre­mium Board that is em­pha­sis­ing good cor­po­rate gov­er­nance will fur­ther en­hance con­fi­dence in the mar­ket which will at­tract both for­eign and do­mes­tic in­vest­ments,” he added.

Re­view­ing the five years of op­er­at­ing in Nige­ria, La­bie said it had been an in­ter­est­ing jour­ney. “Like any de­vel­op­ing econ­omy, it got is chal­lenges but you have to ap­pre­ci­ate the chal­lenges and nav­i­gate your way through. We have nav­i­gated some of the chal­lenges and have been able to work with our clients to help them to do and along the way progress in our own busi­ness. So in the last five years, I think the jour­ney has been pro­gres­sive,” he said.

Look­ing ahead, La­bie said the bank would do more for its clients and con­clude some of the deals that it has in the pipe­line.

“So, you can think of us as one of the lead­ing cap­i­tal mar­ket play­ers that have brought is­suers to the mar­ket and that has also structured fixed in­come deals. We want to be seen as a trusted mer­chant bank in the Nige­rian mar­ket. We want our clients to come to us as an in­sti­tu­tion that they can trust to help them think through the chal­leng­ing is­sues that they have been grap­pling with,” he said.

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