Coronation Merchant Bank Limited, an emerging merchant banking franchise with industry-leading financial stability indicators has unveiled its new corporate identity. Far more than just a logo, the new corporate identity has been designed to communicate Coronation MB’s vision (to be Africa’s premier investment bank), ambition and inner strength. The lion, a core feature in the design, is a widely-recognised symbol of Africa; typifying courage, leadership and intelligence; attributes the bank must demonstrate to achieve its vision and become a respected brand within the African sub-region.
“There is a clear market demand for more sophisticated banking services from Nigeria’s top-tier corporates. Coronation Merchant Bank will focus on bringing world-class advisory services, accompanied by innovative products and services to the sub-region; deepen and broaden economic growth over the next decade, whilst remaining committed to our values of strong governance and transparency,” says Abubakar Jimoh; Managing Director/CEO, Coronation MB.
Coronation MB was established to fill the gap in a long-underserved market segment, seeking to address the need for long term capital across key sectors of the economy. The provision of affordable, longer term financing is critical for sustainable economic growth and its absence is one of the key challenges African entrepreneurs and corporations.
Commenting, Babatunde Folawiyo; Chairman, Coronation Merchant Bank, stated: “The transition to a new brand, with a broader and more strategic focus, is a major milestone for our organization as a full service merchant bank capable of supporting the wider economy, and with a balance sheet to support its ambitions.”
Folawiyo added that the bank was “embarking on an ambitious journey, led by a carefully constituted board and talented/credible management team who are committed to delivering exceptional value to all stakeholders.”
Coronation MB came, following the approval of Associated Discount House’s (ADH) application for a Merchant Banking licence. The company transitioned to a new entity – Coronation Merchant Bank (Coronation MB) – with a new corporate strategy, brand and objectives. Today, the bank is an emerging merchant banking franchise with industry leading financial stability indicators and an “A” rating from Credit rating and risk management company Agusto&Co. The bank noted that the credit rating is a valid testament to its strong capitalisation, good liquidity profile and robust risk management framework evidenced by the zero NPL ratio as at December 2016.