Nigeria’s influential bank celebrates a decade of transformational impact, posting record profit growth while pioneering sustainable finance.
Coronation Merchant Bank was born with a singular ambition: to be a force for impact in Nigeria’s financial ecosystem. And as the bank marks a decade of operations, it stands as one of the country’s most influential merchant banks, with a track record that goes beyond balance sheets and profit margins, one that is deeply interwoven with the nation’s financial ecosystem’s growth story.
“When people think of Coronation Merchant Bank, we want them to associate our brand with impact,” says the bank’s Managing Director and CEO Paul Abiagam. “Driven by our vision to be the most respected Nigerian merchant bank in Africa, we strive to deliver transformational solutions to some of the country’s most pressing challenges.” This commitment is evident from raising capital for four of the country’s seven largest banks to leading initiatives aimed at bridging Nigeria’s infrastructure gap.
Operating in a challenging macroeconomic environment has not deterred Coronation from bold moves. “Being in the eye of the storm means we cannot afford to be passive,” Abiagam explains. “We believe three forces will define leadership in this new era: partnerships, innovation and technology.”
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- Photo by: Kelechi Amadi-Obi (www.kelechiamadiobi.com)
These forces have shaped Coronation’s boldest moves. The bank has forged alliances with fintechs to power frictionless payments, mobilized capital for critical infrastructure projects—including its ₦8.9 billion maiden Coronation Infrastructure Fund, which set a record as the largest debut raise in Nigeria’s infrastructure market—and pioneered Nigeria’s first Non-Interest Commercial Paper under a wakalah structure in partnership with TrustBanc.
Coronation Merchant Bank’s focus extends beyond financial engineering to culture. “The soul of our bank lies in our people,” Abiagam says. “When a client walks through our doors, they meet a face that represents our values of trust, innovation and leadership.”
In an increasingly commoditized market, Coronation Merchant Bank has opted for focus over breadth, doubling down on key sectors such as aviation, construction, FMCG, heavy industries, telecoms, oil and gas, and agribusiness, while deepening its expertise across investment banking, global markets, treasury, trade and payments.
Its strategy has paid off in 2024; the bank recorded almost 300 percent growth in its bottom line, earning industry accolades, including Best Investment Bank by World Finance and four FMDQ awards. “Our edge lies in execution,” the CEO and managing director adds.
Looking ahead, Coronation Merchant Bank is committed to shaping Nigeria’s financial ecosystem by partnering with government and regulators to attract long-term capital, while embedding sustainability at the core of its strategy. Its initiatives, from the Coronation Women Initiative Network to its 1,000-tree planting program, and strict adherence to the Nigerian Sustainable Banking Principles, are designed to ensure that growth is not only ambitious but also sustainable.
“Our goal is to leave a legacy as a bank that delivers enduring value for all stakeholders while safeguarding the environment,” Abiagam concludes. Such is a fitting vision for a bank entering its second decade with confidence and purpose.
Learn more about Coronation Merchant Bank at www.coronationmb.com.
