FMDQ Securities Exchange Limited (FMDQ), has approved the quotation of the Coronation Merchant Bank Limited N11.36 billion Series 18 Commercial Papers (CP) under its N100 billion CP Issuance Programme on its platform.
Coronation Merchant Bank Limited (Coronation MB) provides merchant banking services, which include assets/fund management services, securities trading, treasury services, investment banking and corporate banking services to corporate institutions, institutional investors and high net worth individuals.
The Bank aims to place its clients ahead of the curve in their sphere of operations and by so doing, deliver sustainable value to its shareholders whilst positively impacting the Nigerian economy.
According to FMDQ, Coronation Merchant Bank Limited in 2018, joined the league of other companies whose debt profiles have been raised via the value-packed quotations service offered by FMDQ Exchange.
“The continuous admission of securities to FMDQ Exchange’s platform is reflective of the potential of the Nigerian debt capital market and the commendable level of confidence demonstrated by both issuers and investors in the market,” FMDQ said in a statement.
Coronation Merchant Bank Ltd. (CMB) was incorporated as a private limited liability bank in 1992 and obtained a discount house license from the Central Bank of Nigeria (CBN) in 1993.
Following structural reforms in the Nigerian financial services sector, the company obtained CBN’s license to operate as a merchant bank in 2015. Coronation earns revenue from both interest and non-interest sources.
In 2020 Full Year result, gross earnings fell by 12.12 per cent to N27.36 billion dragged by the 20.49 per cent dip in interest income.
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