Nigeria’s leading financial institution, Coronation Merchant Bank has once again blazed the trail in merchant banking with the launch of its mobile banking application. The App which is the first of its kind within the merchant banking space provides customers with easy access to their accounts as well as the ability to perform transactions seemlessly without the need for in-person banking.
In spite of the novel coronavirus, Coronation Merchant Bank has been at the vanguard of pioneering innovative solutions to enable its customers achieve their strategic objectives. Earlier this year, the Bank announced its partnership with IFC (a member of the World Bank Group) to provide a $40 million Trade Finance Guarantee facility for its clients. This was the first time in 5 years that IFC would approve such a facility in Nigeria.
Furthermore, the Bank was recently appointed as a designated bank for the collection and remittance of all Revenue Payments (i.e. Import, Excise and other duties) by the Nigeria Customs Service.
Commenting on the launch, Banjo Adegbohungbe, Managing Director/CEO of Coronation Merchant Bank stated that, “We are delighted to be at the forefront of digital banking within the merchant banking space. We recognise that these are very difficult times and our customers are looking for a partner that can help them navigate the challenges induced by the COVID-19 pandemic. This is why we are constantly raising the bar and pushing the limits in service delivery by pioneering innovative solutions that make banking easier and faster for our customers”.
He further stated that, “our goal is to consistently create value for our customers and to provide them with solutions that enable them meet their strategic objectives. We remain committed to being there for our customers even in these difficult times”.
About Coronation Merchant Bank
Coronation Merchant Bank was established in 2015 to provide wholesale banking to a long-underserved market. The Bank offers: Corporate & Investment Banking, Private Banking/Wealth Management and, Global Markets/Treasury Services to its niche clientele. It presently has two branches located in Abuja and Port Harcourt with its Head Office in Lagos, Nigeria.
The Bank has been the recipient of numerous international and national awards for product innovation and sound corporate governance practices. Some of the international awards it received in 2020 and 2019 include Best Investment Bank in Nigeria by Global Finance, Best Investment Bank in Nigeria by World Finance, Best Investment Bank in Nigeria by Global Banking & Finance Review, Best Investment Bank by Global Business Outlook and Best Investment Bank in Nigeria by International Finance.
