By Taiye Olayemi

 

 

 

Coronation Merchant Bank says it generated N12.26 billion for the year ended Dec. 31, 2024.

 

 

 

This is a 363 per cent growth from its N2.65 billion generated in 2023.

 

 

 

This is contained in a statement by Mr Paul Abiagam, Acting Managing Director of Coronation Merchant Bank, issued on Wednesday in Lagos.

 

 

 

The company also reported a 285 per cent profit before tax from N3.48 billion in 2023 to N13.401 billion in 2024.

 

 

 

Its total asset also grew from N524.46 billion in 2023 to N558.64 billion in 2024 while its equity soared from N37.33 billion in 2023 to N45.85 billion in 2024.

 

 

 

The earning per share attributable to ordinary shareholders rose from N52.00 to N161.40 in 2024.

 

 

 

The interest income increased from N40.39 billion in 2023 to N70.12 billion in 2024.

 

 

 

Abiagam said, “Coronation Merchant Bank has concluded the year 2024 with remarkable achievements, solidifying its position as a leader in Nigeria’s financial services industry.

 

 

 

“The bank won seven impressive and prestigious awards due to our commitment to delivering value to clients and stakeholders.

 

 

 

“The bank’s accolades include being named the Best Investment Bank in Nigeria at the World Finance Awards for a record seventh consecutive year.

 

 

 

“Additionally, Coronation Merchant Bank was celebrated as The Most Outstanding Merchant Bank for 2024 at the BrandCom Awards and recognised as the Best Social Media Merchant Bank at the Digital Jurist Awards.

 

 

 

“At the FMDQ Awards, the bank secured honours in four key categories: Most Diverse Issuer on FMDQ, FMDQ Registration Member (Quotations), Most Active Securities Lodgement Sponsor, and Largest Issuing House on FMDQ.

 

 

 

“These recognitions underscore the bank’s pivotal role in advancing Nigeria’s capital markets and fostering financial innovation.”

 

 

 

Abiagam noted that beyond these accolades, Coronation Merchant Bank achieved more significant strategic milestones in 2024.

 

 

 

He said the bank successfully facilitated major capital-raising transactions, launched the Coronation Vintage Naira and Dollar Accounts, and introduced VISA Cards, expanding its payment solutions.

 

According to him, the bank also secured triple certifications, affirming its dedication to global standards of quality, security, and service excellence. (NAN)

 

Edited by Dorcas Jonah/Olawunmi Ashafa

Published By

Folashade Adeniran

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