Coronation Merchant Bank

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Coronation Merchant Bank
Formation2015; 9 years ago (2015)
Headquarters10 Amodu Ojikutu St, Victoria Island, Lagos, Nigeria
Sub-Saharan Africa
  • Corporate Banking
  • Investment Banking
  • Treasury & Global Markets
  • International Trade
Key people
  • Banjo Adegbohungbe (MD/CEO)
  • Magnus Nnoka (Chief Risk Officer)
  • Cornelia George Utuk (Company Secretary/Legal Adviser)
  • Iyobosa Sorae (Head, Treasury And Global Markets)
Formerly called
Associated Discount House Limited (ADHL)

Coronation Merchant Bank is a Nigeria investment bank and financial services company headquartered in Lagos, Nigeria.[1] It offers services in Corporate Banking, Investment Banking, Private Banking-Wealth Management, International Trade and Global Markets/Treasury.[2]

The bank is one of the leading investment banks in Nigeria.[3][4] World Finance and Global Banking & Finance Awards all named Coronation Merchant Bank “Best Investment Bank, Nigeria” in 2019.

In January 2020, the bank appointed[5] Banjo Adegbohungbe as the Acting[6][7] Managing Director following the retirement of Abu Jimoh. In April 2020, the bank held its 5th Annual General Meeting (AGM) and he was confirmed as the substantive Managing Director/CEO following the Central Bank of Nigeria (CBN) approval.[8][9]


In 1993. Associated Discount House Limited (ADHL) now Coronation Merchant Bank was founded. ADHL was licensed by the Central Bank of Nigeria to provide liquidity for sovereign debts notes and money market instruments.

In 2011, a new leadership was formed at ADHL, marking a new era for the emergence of Coronation Merchant Bank. The company has maintained a continuous growth across all metrics, turning challenges in the financial industry into opportunities.[11]

ADHL began the transition into a merchant bank & Coronation Merchant Bank. A merchant bank license was obtained in 2013 and an FX dealing license in 2015.

Current Operation[12]

The company includes 4 business units, as follows:

Corporate Banking

The Bank offers global expertise in providing solutions that meet the banking needs of businesses, manage risks efficiently and finance their plans for growth.

Investment Banking[13]

The Investment Banking division of the Bank offers a suite of efficient and high impact financial support solutions covering raising equity, debt or structured capital for businesses.[14]

Treasury & Global Markets

The Bank is a primary dealer/market maker in the fixed income and currencies market and also, a dealing member of the Financial Markets Dealers Quotation (FMDQ), Securities Exchange and Financial Markets Dealership Association (FMDA).

International Trade

Coronation Merchant Bank offer export/import financing and various types of structured finance to businesses.


Year Gross earnings PBT Total assets
2015 11,238 2,330 78,801
2016 14,792 5,198 107,048
2017 24,749 4,933 137,673
2018 27,957 5,196 222,779
2019 31,129 5,024[15][16] 253,350

*CAGR - Compounded Annual Growth Rate: 2015 Base Year

Corporate Governance

Name Designation
Mr. Babatunde Folawiyo Chairman
Mr. Babatunde Dabiri Non-Executive Director /Independent
Mrs. Suzanne Iroche Non-Executive Director /Independent
Ms. Olubunmi Fayokun Non-Executive Director /Independent
Mr. Larry Ettah Non-Executive Director
Ms. Evelyn Oputu Non-Executive Director
Mr. Adamu Atta Non-Executive Director
Mr. Idaere Ogan Non-Executive Director
Mr. Abubakar Jimoh Executive Director
Mr. Adebanjo Adegbohungbe MD/CEO

* As of June, 2020

Awards and recognition

  • In 2018, Coronation Merchant Bank was named the Best Investment Bank, Nigeria by Global Business Outlook, World Finance[17] and International Finance Awards[18][19]
  • Businessday (BAFI Awards) named Coronation Merchant Bank the "Investment Bank of the Year" in 2018 and 2019
  • World Finance and Global Banking & Finance Awards named Coronation Merchant Bank “Best Investment Bank, Nigeria” in 2019[20][21]
  • In July, 2020, World Finance named Coronation Merchant Bank as the winner for “Best Investment Bank, Nigeria". [22]


  1. "Central Bank of Nigeria | All Financial Institutions | Coronation Merchant Bank Limited". Retrieved 2020-07-06.
  2. "Coronation Merchant Bank - Brand Identity - Nucleus Case History". Nucleus. Retrieved 2020-07-06.
  3. "Chief Economist at Coronation Merchant Bank". Movemeback. Retrieved 2020-07-06.
  4. "How Coronation Merchant Bank is contributing to Nigeria's investment banking renaissance". Retrieved 2020-07-06.
  5. "Banjo Adegbohungbe appointed Acting Managing Director, Coronation Merchant Bank Lagos, Nigeria – January 30, 2020". Vanguard News. 2020-02-03. Retrieved 2020-07-06.
  6. editor (2020-02-03). "Coronation Merchant Bank Appoints Adegbohungbe Acting MD". THISDAYLIVE. Retrieved 2020-07-06. {{cite web}}: |last= has generic name (help)
  7. "Banjo Adegbohungbe appointed acting MD, Coronation Merchant Bank". Businessday NG. 2020-02-04. Retrieved 2020-07-06.
  8. Partners, N. M. (2020-02-03). "Coronation Merchant Bank appoints Banjo Adegbohungbe as Acting Managing Director". Nairametrics. Retrieved 2020-07-06.
  9. Partners, N. M. (2020-04-15). "Coronation Merchant Bank holds virtual AGM, appoints substantive MD". Nairametrics. Retrieved 2020-07-06.
  10. gmposts (2017-12-12). "Coronation Merchant Bank: Their Functions And All You Need To Know » GMPOSTS". GMPOSTS. Retrieved 2020-07-06.
  11. Ogwu, Sunday Michael; Lagos (2017-12-16). "How Coronation Merchant Bank stepped into the limelight". Daily Trust. Retrieved 2020-07-06.
  12. "What we do at Coronation Merchant Bank - Africa's Premier Investment Bank". Coronation Merchant Bank. Retrieved 2020-07-06.
  13. "Coronation Merchant Bank Commercial Paper Issuance Series V and VI Now Open". Coronation Merchant Bank Commercial Paper Issuance Series V and VI Now Open. Retrieved 2020-07-06.
  14. "Coronation Merchant Bank Commercial Paper - Series IX & X". Emerging Africa Capital Group. Retrieved 2020-07-06.
  15. editor (2020-03-06). "Coronation Merchant Bank's Profit Rises to N5.097bn". THISDAYLIVE. Retrieved 2020-07-06. {{cite web}}: |last= has generic name (help)
  16. "Coronation Merchant Bank declares N5.09bn profit after tax for 2019 | Premium Times Nigeria". 2020-03-05. Retrieved 2020-07-06.
  17. "Coronation Merchant Bank Emerges Nigeria's Best Investment Bank". Business Post Nigeria. 2018-10-03. Retrieved 2020-07-06.
  18. "Coronation Merchant Bank wins best investment bank award". Vanguard News. 2018-11-18. Retrieved 2020-07-06.
  19. Finance, World (2018-10-01). "Coronation Merchant Bank picks up award for Best Investment Bank in Nigeria". GlobeNewswire Newsroom. Retrieved 2020-07-06.
  20. "Coronation Merchant Bank wins best investment bank in Nigeria award". Nigerian Banker | Expanding your knowledge about Banking and the Economy. 2019-06-24. Retrieved 2020-07-06.
  21. Partners, N. M. (2019-06-24). "Coronation Merchant Bank wins Best Investment Bank in Nigeria award". Nairametrics. Retrieved 2020-07-06.
  22. "Banking Awards - The Benchmark for Banking". Retrieved 2020-07-08.

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