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Over time, Coronation Merchant Bank has grown to become one of the country’s leading financial institutions in the investment banking space—a segment that’s become more competitive in recent years. Its public-facing content says that it’s “on a journey to become Africa’s premier investment bank.” The bank notes that it aims to achieve this with a combination of high-quality talent, innovation, governance, and deep knowledge of local markets. Coronation Merchant Bank started out as Associated Discount House Limited (ADHL), which was set up in 1993 by a group of financial institutions. The company operated as a provider of liquidity for sovereign debt notes and money market instruments. It began its transition to becoming a merchant bank in 2013, and eventually secured a merchant banking license and Foreign Exchange dealing license in 2015.
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The investment banking division of Coronation Merchant Bank lies at the heart of the bank’s operations. It helps its institutional clients raise capital and guides them through capital market transactions. It also provides advisory for corporate mergers and acquisitions and offers project financing solutions to large-scale businesses across sub-Saharan Africa. Corporate banking services are available from Coronation as well. It supports its clients with a broad range of financing options for their business needs, works with them to simplify their trade engagements (whether they are within Nigeria’s borders or international), and helps them with cash management solutions to track and manage incoming and outgoing payments. Companies from various industries can work with Coronation to make their international trade transactions much easier. The bank aids imports with Letters of Credit, Bills of Collection and other crucial documents, and provides financial support to exporters. It facilitates other cross-border operations such as foreign funds remittance and foreign funds transfer and enables the issuance of Certificate of Capital Importation (CCI) to organizations that need it.
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Coronation also gives investors access to the money markets, supplies Foreign Exchange to institutional clients, offers fixed-income investment opportunities, and delivers bespoke investment products that it tailors to the needs and risk appetite of its customers. Many of the services available from Coronation can be accessed through its internet banking platform (on its website) or via its mobile application which intending users can download from the Apple App Store or Google Play Store. Featured Image Source: Punch Newspapers
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