Coronation Merchant Bank Receives Significant Fitch Rating Upgrade to ‘B-’, Outlook Stable. Lagos, Nigeria – July, 2024 Lagos, Nigeria – June 11, 2024 – Coronation Merchant Bank is pleased to announce that Fitch Ratings has upgraded its Long-Term Issuer Default Rating (IDR) to ‘B-‘ from ‘CC’ and its Viability Rating (VR) to ‘b-‘ from ‘cc’. …
More →Non-Executive Director Mr. Olayinka Tiamiyu graduated with a B.Sc Hons Degree in Petroleum Engineering and an M.Sc in Industrial Engineering both from University of Ibadan in 1986 and 1990 respectively. In year 2000, he obtained an MBA from the University of Lagos. He is a fellow of the Institute of Chartered Accountants of Nigeria …
More →Group head investment banking B.Eng, M. Fin Taiwo Olatunji is an investment banking professional with over 16 years of experience in business and financial advisory services. He has been instrumental to several successful financial transactions including the first and second triple tranche Eurobond offerings of US$2.87 Billion and US$4.00 Billion by the Federal …
More →Group Head, Private Banking and Wealth Management Ifeyinwa Uwefoh brings over 24 years of experience in financial services to Coronation Merchant Bank, boasting a successful track record in private banking, retail banking, and international trade operations. Her extensive expertise makes her perfectly suited to leading and growing the bank’s private banking business. Ms. Uwefoh’s …
More →Coronation Merchant Bank, Named Best Investment Bank, Nigeria, at the 2023 World Finance Banking Awards Lagos, Nigeria – April, 2024 Coronation Merchant Bank, a member of the Coronation Group Limited, was announced as the Best Investment Bank, at the esteemed 2023 World Finance Banking Awards recently. This esteemed accolade highlights the bank’s exceptional commitment to …
More →Coronation Merchant Bank Limited Strengthens Management Team with Key Appointments Lagos, Nigeria – April, 2024 Coronation Merchant Bank Limited has announced the appointment of three key experienced professionals to its executive management team. A statement from the Bank explained that the new appointees are expected to strengthen its management team and bring fresh expertise in its operations. The Executives …
More →The demand at this auction primarily reflects improved system liquidity as call, overnight, and repo rates closed within a range of 6% – 30%. We note there was substantial demand for longer-tenured bonds, such as the FEB 2034 bond (N150bn was offered, while N461.8bn was allotted). Domestic institutions remain the core participants at the FGN …
More →The dialogue reaffirmed the CBN’s dedication to rectifying distortions within the foreign exchange market. We understand that a payment of USD400m has recently been made towards the outstanding FX backlog of USD2.2bn, resulting in a remaining balance of USD1.8bn. Cardoso revealed that the remaining backlog, associated with five banks, would be swiftly cleared in the …
More →In assuming his role as CBN governor months ago, the fx backlog was c.USD7bn. However, after engaging one of the “the Big Four accounting and consulting firms”, to conduct a forensic audit. The result pointed towards USD2.4bn FX claims being invalid. Therefore, the resultant figure of USD4.6bn is what the CBN has been working with. …
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Infrastructure deficit continues to hinder economic growth and development across Africa. The Infrastructure deficit has worsened due to rising debt burdens and prevailing macroeconomic trends. In this episode, we explore the role DFIs can play, with regards to providing long-term infrastructure development finance to bridge the deficit as well as highlight measures needed to foster …
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