Lagos: Coronation Merchant Bank says it generated N12.26 billion for the year ended Dec. 31, 2024. This is a 363 per cent growth from its N2.65 billion generated in 2023.

According to News Agency of Nigeria, the company also reported a 285 per cent profit before tax from N3.48 billion in 2023 to N13.401 billion in 2024. Its total asset also grew from N524.46 billion in 2023 to N558.64 billion in 2024, while its equity soared from N37.33 billion in 2023 to N45.85 billion in 2024. The earning per share attributable to ordinary shareholders rose from N52.00 to N161.40 in 2024, and the interest income increased from N40.39 billion in 2023 to N70.12 billion in 2024.

Mr Paul Abiagam, Acting Managing Director of Coronation Merchant Bank, remarked on the bank’s 2024 achievements, highlighting its strengthened position in Nigeria’s financial services industry. The bank won seven awards, including being named the Best Investment Bank in Nigeria at the World Finance Awards for the seventh consecutive year. It was also recognised as The Most Outstanding Merchant Bank for 2024 at the BrandCom Awards and as the Best Social Media Merchant Bank at the Digital Jurist Awards. At the FMDQ Awards, the bank secured honours in four categories, showcasing its role in advancing Nigeria’s capital markets and fostering financial innovation.

Abiagam further noted significant strategic milestones achieved by Coronation Merchant Bank in 2024, including facilitating major capital-raising transactions, launching the Coronation Vintage Naira and Dollar Accounts, and introducing VISA Cards. The bank also secured triple certifications, underscoring its commitment to global standards of quality, security, and service excellence.