Assets of Coronation Merchant Bank up 63% in 2018. & its 5 years Financials



Coronation Merchant Bank Limited, the bank that is on a journey to become Africa’s premier investment bank. Recently released its 2018 financials, details of the result shows:

  • Total asset increase by 63% from N136.7 billion in 2017 to N223 billion in 2018 financial year end.
  • Customers deposit also grew by 65% to N126.2 billion from N76.4 billion in 2017 year end.
  • Loans and Advances to customers grew from N32.3 billion to N54.8 billion representing 70% growth in 2018 FY.
  • PBT of Coronation Merchant Bank grew by 7% to N5.3 billion from N5.1 billion representing 7% growth in 2018.
  • The shareholders’ funds increased to N31.5 billion from N29.5 billion in 2017, representing 4% growth year-on-year.
  • Loan-to-deposit ratio is at 43.4% as against 42.2 per cent the previous year.
  • There was increase in foreign exchange and fixed income trading volumes, loan disbursements, e-channel transactions which saw the bank’s non-interest income increase by 46% year-on-year to achieve N4.1 billion compared with N2.8 billion achieved in 2017.

The Group Managing Director/Chief Executive Officer of Coronation Merchant Bank, Mr. Abubakar Jimoh, mentioned that the bank is stronger, simpler and better positioned to deliver long-term value to shareholders. He also said despite a difficult operating environment, the bank stayed the course, recording modest growth across most financial indices. The growth we recorded in our profitability and capital position is a testament to the strength of our business model and the commitment of our people.

According to the MD/CEO: “As a platform for improving lives, our aim is to assist our customers to identify growth opportunities, harness these opportunities and in the process, enable businesses thrive, economies grow, and ultimately, help organizations fulfill their hopes and realize their ambitions.”

In his words: “As a group, we have continued to expand our sector reach and meet our customers’ financing needs by offering products tailor-made to their varied needs. in 2018, we deliberately increased our exposures to high-quality obligors in agriculture, manufacturing and oil & gas sectors who fall within our risk acceptance criteria.

“The quality and efficacy of our growth strategy is evidenced by our zero non-performing loan ratios which we have maintained for the third year running. In addition to this, our dollar asset base grew by over 100 per cent driven largely by self-liquidating trade finance transactions that are well managed, in line with our risk management framework.”

Here is how Coronation Merchant Bank Limited has fared in the last 5 years.

coronation merchant bank

The bank has had a very impressive 5 year with evidence from its financials. Total Assets grew by over 200% from 2014’s N74 billion to N223 billion in 2018. Customers deposit skyrocketed from N21 billion in 2014 to N126 billion in 2018 FY, while Loan To customers also grew significantly from N0.4 billion to 55 billion in the 5 year of review. Shareholder equity also increased by 90% during this period.

Coronation Merchant Bank has also been increasing its PBT over the years growing from a N1.6 billion earned in 2014 to N5.3 billion earned in 2018 financial year.

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