• Caught in the debt trap?

    Help us help you by taking our second annual Debt survey and you could win R3 000.

  • Rich man, poor man

    Culture change from below is the only way to overcome poverty, says Leopold Scholtz.

  • Tech bubble talk

    After the tech euphoria of 2013, the fast-moving sector has hit a speed bump.

Data provided by McGregor BFA
All data is delayed
See More

RMB to expand its franchise in Nigeria

Nov 26 2012 16:25 I-Net Bridge

Company Data


Last traded 50.59
Change 0.34
% Change 0.01
Cumulative volume 602779
Market cap 71.42bn

Last Updated: 24/04/2014 at 04:29. Prices are delayed by 15 minutes. Source: McGregor BFA


Last traded 38.67
Change 0.33
% Change 0.01
Cumulative volume 5727172
Market cap 218.02bn

Last Updated: 24/04/2014 at 04:29. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Outlook uncertain despite confidence

RMB ups earnings 3%

RMB midcap exchange-traded fund launched

Business confidence bounces back

Royal Bafokeng ups stake in RMBH

RMB Ventures invests in Studio 88 Group

Johannesburg - RMB Holdings [JSE:RMH] confirmed on Monday that‚ through its parent FirstRand [JSE:FSR]‚ it has secured an investment banking licence from the Central Bank of Nigeria which required an initial capital investment of $100m.

RMB has been operating in Nigeria from a representative office since January 2010 and is already a meaningful player in the Nigerian investment banking sector.

Alan Pullinger‚ CEO of RMB‚ says that the licence will allow RMB to more rapidly build out its franchise‚ provide products and services to the corporate and institutional client segments as well as employ talented bankers in the country.

“We are very pleased to have secured this licence‚” said Pullinger. “Nigeria as a country and the West African region as a whole are experiencing significant growth and although we have already established a track record through our representative office‚ this licence will allow us to significantly scale up our in-country offering.”

RMB Nigeria will provide corporate advisory services‚ equity capital markets‚ infrastructure and project finance‚ resource finance‚ structured trade and commodity finance‚ and fixed income‚ currency and commodity services to large local‚ regional and international corporates already operating in or entering Nigeria and the broader West African economies.

Sizwe Nxasana‚ CEO of FirstRand‚ said that this development was in line with FirstRand’s strategy to build a presence in high growth African markets with attractive long term prospects.

“This move is consistent with our strategy as we often enter a new market through the appropriate operating franchise‚ in this case RMB‚ and the rest of the banking group may then follow. Nigeria currently offers strong growth prospects particularly with regards to corporate and investment banking.”

RMB Nigeria‚ with Michael Larbie as Chief Executive Officer‚ will operate from their offices at 12 Churchgate‚ Victoria Island‚ Lagos.
rmb  |  firstrand bank  |  nigeria


Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Add your comment
Comment 0 characters remaining

Company Snapshot

We're Talking About: Small Business

Standard Bank is looking for 12 entrepreneurs to participate in a 10-part TV series. They could win a R1m investment into their dream.

Ramphele: ANC can be defeated

The African National Congress can be defeated, Agang SA leader Mamphela Ramphele has told supporters in Temba near Hammanskraal.


Latest elections multimedia

Watch what happened when we blindfolded Helen Zille and asked her to eat random things
13 days to elections - news you need to know
11 Julius Malema quotes you'll never forget
DA won't get 30% - Zille

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...