Agusto & Co upgrades Coronation Merchant Bank’s Credit Rating to “A”

Coronation Merchant Bank (Formerly Associated Discount House Limited) has been upgraded by Agusto & Co., Nigeria’s foremost rating agency with credit rating.

The rating agency upgraded Coronation Merchant Bank’s credit rating from “A-“ to “A” with stable outlook. This serves as a valid testament to the bank’s “strong capitalisation, good liquidity profile, good asset quality and experienced management team.”

With this coming barely one year after the Bank’s conversation to merchant banking operations, the effectiveness of the new business strategy and operational model has become evident.

Over the past one year, Coronation Merchant Bank has demonstrated a strong capacity to intelligently navigate the challenging and complex business environment in a manner that guarantees shareholders value.

The bank has adopted a business model which is very risk focused and is committed to the adoption of risk management best practices in all facets of its operations and predicates its operations on a conservative but highly responsive portfolio management philosophy.  This strategy, laced with a guarded risk attitude and strong risk bearing capacity supported its seamless transition from Discount House to Merchant Bank.