Coronation Merchant Bank has successfully concluded its recapitalisation program, raising its paid-up capital to N50,257.767.438 and reinforcing its financial position for future growth.


The capital raise was achieved through a combination of a rights issue and a private placement, which together generated more than N32 billion in fresh equity funding. With this increase, the bank now meets the N50 billion minimum capital requirement mandated for merchant banks by the Central Bank of Nigeria.


The completion of the recapitalisation marks a significant milestone for the bank as it positions itself for expanded operations and improved financial resilience within Nigeria’s banking sector.


Strong Investor Participation Drives Capital Raise


According to the bank, the capital-raising exercise received strong backing from both existing shareholders and strategic investors. Their participation enabled the institution to strengthen its balance sheet while preparing for the next phase of its strategic expansion.


By securing additional equity capital, the bank aims to enhance its operational efficiency and improve its ability to support clients across its core business segments.


Leadership Highlights Confidence in Long-Term Strategy


Reacting to the successful completion of the program, the chairman of Coronation Merchant Bank, Babatunde Folawiyo, said the outcome reflected investor confidence in the bank’s long-term direction.


The successful completion of this capital raise reflects the strong confidence our shareholders have in the bank's strategy and long-term vision. With a stronger capital base, we are well-positioned to expand our role in supporting Nigeria’s financial markets, he said.

The recapitalisation, according to the bank’s leadership, will enable it to strengthen its presence within Nigeria’s financial ecosystem while supporting corporate and institutional clients more effectively.



Recapitalisation Expected to Boost Innovation and Growth

The Managing Director and Chief Executive Officer of the bank, Paul Abiagam, explained that the additional capital will significantly improve the bank’s capacity to deliver value to its clients and stakeholders.

This recapitalisation significantly enhances our capacity to deliver greater value to our clients and stakeholders. Furthermore, it positions the bank to deliver improved performance, deepen innovation, and expand across our chosen focus markets, Abiagam said.

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Expansion Plans Across Core Financial Services

With a stronger capital base, Coronation Merchant Bank plans to broaden its services across several strategic areas, including lending, investment banking, global markets, and treasury operations.


The bank also aims to deepen relationships with major corporate organisations and financial institutions operating in Nigeria, strengthening its role within the country’s financial markets.


The recapitalisation milestone underscores the institution’s growing franchise strength and the continued confidence of investors. It also positions the bank to scale its operations and deliver a wider range of financial services to its clients as Nigeria’s financial sector evolves.