Coronation Merchant Bank Limited, has released its 2018 Full Year Results to stakeholders in which the bank posted a profit before tax of N5.3 billion.
Commenting on the results, Abu Jimoh, Group Managing Director/CEO of Coronation Merchant Bank Limited, said that “despite a difficult operating environment, the company stayed the course, recording modest growth across most financial indices. “The growth we recorded in our profitability and capital position is a testament to the strength of our business model and the commitment of our people. “When we look at where we stand today, our company is stronger, simpler, and better positioned to deliver long-term value to our stakeholders, thanks to the straightforward way in which we serve our customers and clients.
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“As a platform for improving lives, our aim is to assist our customers to identify growth opportunities, harness these opportunities and in the process, enable businesses thrive, economies grow, and ultimately, help organizations fulfill their hopes and realise their ambitions.”
The Group maximised opportunities in its core business to deliver stable and sustainable revenue growing the topline revenue by 10 per cent compared to 2017. Profit Before Tax increased from N5.1billion in 2017 to N5.3billion while Total Assets grew by 63 per cent from N136billion in 2017 to N223billion.
