Coronation Merchant Bank

What Coronation Merchant Bank does

Coronation Merchant Bank Limited is a privately held Nigerian wholesale merchant bank founded in 2015 and headquartered in Lagos, with branch offices in Abuja and Port Harcourt. The bank is licensed by the Central Bank of Nigeria and the Securities and Exchange Commission, and is the first and only Nigerian merchant bank to hold an international risk rating — a B- with Stable Outlook from Fitch Ratings, complemented by a National Long-Term Rating of BBB+ (nga) and an A+ with Stable Outlook from Agusto & Co, the highest among Nigerian merchant banks. It operates as a wholesale/investment bank serving four primary customer segments: large corporate clients, high net worth individuals, government and public sector entities, and financial institutions and telecoms.

The bank's product platform spans Affluent and Private Banking, Investment Banking (advisory, capital markets, project financing), Corporate Banking, Global Markets and Treasury (FX, liquidity, fixed income, equities), Securities Advisory and Brokerage (via Coronation Securities), Corporate and Private Trust (via Coronation Trust), Mutual Funds (via Coronation Asset Management), and International Trade services with correspondent banking relationships across West Africa, Europe and America. Distribution is delivered through dedicated relationship managers for enterprise and institutional clients, internet and self-serve banking platforms, and the three-branch physical network.

The revenue model is diversified across fee-based advisory (investment banking), transaction fees (brokerage, trading, trade finance, alternative investments), and subscription/recurring streams (private banking, corporate banking, mutual funds). Deposit pricing is publicly disclosed (rates ranging from 3.00% to 13.50% depending on tenor and amount). Recapitalisation completed in late 2025 raised paid-up capital to ₦50,257,767,438, and the bank has recorded zero Stage 3 loans since converting to merchant bank operations in 2015.

Name

Coronation Merchant Bank

Legal name

Coronation Merchant Bank Limited

Website

https://coronationmb.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

251–500 employees

Short description

Coronation Merchant Bank is a Lagos-headquartered, CBN- and SEC-licensed Nigerian wholesale merchant bank serving large corporates, high net worth individuals, government entities, and financial institutions with investment banking, private banking, treasury, securities, and trade services.

Ownership category

akta.pro rank

Headquarters

HQ city

Lagos

HQ country

Nigeria

HQ region

Africa

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Corporate & Investment Banking: Provides strategic and financial advisory, capital market solutions, and project financing structures for corporates, government departments, and institutions.
2. Private Banking & Wealth Management: Tailored banking solutions for high networth individuals including estate planning and wealth preservation.
3. Global Markets & Treasury: Liquidity management, treasury services, and trading of fixed income and equity products.
4. Corporate Banking: Banking services for the bank's largest corporate clients with complex banking needs.
5. Securities Advisory & Brokerage: Stockbroking for primary issues, intermediating between clients and the Nigerian Stock Exchange for capital raising.
6. International Trade Services: Trade solutions with correspondent banking relationships spanning West Africa, Europe, and America.
7. Alternative Investments: Access to derivative products on the Nigerian exchange including Exchange Traded Funds.
8. Mutual Funds: Short and long-term investment options through mutual fund products.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Coronation Merchant Bank is a wholesale/investment bank that delivers corporate and investment banking, private banking and wealth management, and global markets and treasury services to large corporates, government entities, financial institutions, telecoms, and high net-worth individuals. It intermediates capital raising on the Nigerian Stock Exchange, provides securities brokerage, corporate and private trust, mutual funds, alternative investments, and international trade solutions through correspondent banking relationships.

Product overview

Coronation Merchant Bank operates as a wholesale/investment bank offering a comprehensive suite of banking and financial services. The bank provides Corporate & Investment Banking, Private Banking/Wealth Management, and Global Markets/Treasury Services to its niche clientele. Core products include Affluent Banking, Private Banking, Investment Banking, Corporate Banking, Global Markets & Treasury, Public Sector Banking, and Financial Institutions & Telecoms services. The bank also offers complementary services through affiliated companies including Securities Advisory and Brokerage (via Coronation Securities), Corporate Trust and Private Trust (via Coronation Trust), Alternative Investments, and Mutual Funds. Recent product launches include Vintage Naira and Dollar Accounts and VISA Cards expansion, all delivered through internet and mobile banking channels from its headquarters in Lagos with branches in Abuja and Port Harcourt.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Zero Stage 3 loans since converting to merchant bank in 2015
• +1 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered core and supporting.

• Nigerian Regulatory BodiescoreOthers · 3 February 2026Coronation Merchant Bank maintains relationships with Nigerian regulatory bodies including the Central Bank of Nigeria (CBN) and Securities and Exchange Commission (SEC) for licensing and oversight. The bank works closely with CBN officials and financial institution representatives.
• Payments Industry PartnerscoreTechnology or Integration · 1 December 2025Expanded VISA Cards offering through strategic partnerships in the payments sector. The bank has deepened partnerships across payments, private banking, and trade operations.
• Correspondent Banks (West Africa, Europe, America)coreStrategic or Co-development Partner · 1 January 2025Coronation Merchant Bank's international trade services are supported by correspondent banking relationships spanning West Africa, Europe, and America, enabling wide-ranging solutions for global trade transactions.
• Coronation Securities LimitedcoreImplementation/ SI/ Consulting PartnerSecurities advisory partner providing stockbroking services for primary issues, intermediating between clients and the Nigerian Stock Exchange.
• Coronation Asset ManagementcoreImplementation/ SI/ Consulting PartnerMutual fund management partner providing short and long-term investment options through various mutual fund products.
• Corporate Trust PartnersupportingImplementation/ SI/ Consulting PartnerCorporate trust services tailored for institutional clients, holding assets and protecting the interests of transacting parties.

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• United Bank for Africa (UBA): Pan-African Nigerian bank offering commercial, corporate and investment banking across 20+ African countries and globally. Competes with Coronation on corporate banking, trade finance, treasury and public sector mandates across West Africa.
• Guaranty Trust Bank (GTBank): Major Nigerian commercial bank with strong corporate banking and increasingly investment banking capabilities. Comparable as both a competitor and as the prior employer of Coronation's MD/CEO Paul Abiagam; overlaps on corporate, treasury and affluent banking segments.
• Zenith Bank: Top-tier Nigerian commercial bank with significant corporate, treasury and investment banking operations. Comparable in serving large Nigerian corporates and government clients with sophisticated banking needs similar to Coronation's target segments.
• Ecobank: Pan-African banking group with a wholesale banking division (Ecobank Capital) providing investment banking, fixed income, equities and advisory services. Comparable to Coronation in delivering merchant/investment banking products across West Africa.
• Access Bank: Large Nigerian commercial bank with growing pan-African footprint via acquisitions. Comparable on corporate/investment banking, trade finance, treasury services and digital banking products targeted at corporates and affluent individuals.

Regional players

• Absa Corporate and Investment Bank: Africa-focused corporate and investment banking franchise (formerly Barclays Africa), offering advisory, debt capital markets, equities, trade and treasury services across multiple African markets. Comparable to Coronation as an Africa-focused merchant/investment banking franchise.
• Rand Merchant Bank (RMB): South African-based merchant bank within FirstRand, offering investment banking, global markets, transactional banking and private banking across Africa. Comparable to Coronation as a pan-African wholesale/investment banking franchise operating across multiple African geographies.
• Standard Bank Group: Africa's largest bank by assets, with a CIB division delivering investment banking, markets, transaction banking and wealth services across Africa. Comparable to Coronation on investment banking, trade finance, treasury and private banking for African corporates and HNW clients.

Direct peers

• FBNQuest Merchant Bank: Nigerian merchant bank providing wholesale banking, investment banking and treasury services to corporates and HNIs. Closest direct competitor to Coronation in the Nigerian merchant banking space; notably, Coronation's Executive Director Funke Feyisitan-Ladimeji was previously COO at FBNQuest Merchant Bank.
• Stanbic IBTC Holdings: Nigerian banking group combining commercial banking, investment banking, asset management and stockbroking services. Directly comparable to Coronation in providing corporate/investment banking, private banking and securities services within Nigeria.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/coronationmb
• YouTubeyoutube.com/channel/UCEuPwboVKVk2nn3_BAUOXnA
• Facebookfacebook.com/coronationmb
• LinkedInlinkedin.com/company/coronationmb-group
• Instagraminstagram.com/coronationmb

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Coronation Merchant Bank