Rating Release
Agusto & Co. affirms the ‘Bbb+’ (long term) and ‘A2’ (short term) ratings assigned to Coronation Merchant Bank Limited, with a stable outlook
The rating expires on 30 June 2027.
Agusto & Co. affirms the “Bbb+” (long term) and “A2” (short term) ratings assigned to Coronation Merchant Bank Limited (‘Coronation MB’ or ‘the Bank’), underpinned by strong shareholders’ support as reflected in the ₦32.1 billion capital injection, good liquidity position, good capitalisation and low level of impaired credits. However, offsetting the ratings are the weak profitability and concentration in the loan book and the deposit base. A ‘3’ ESG score has also been attached to the ratings, indicating material contribution of environmental, social and governance issues to the Bank’s credit risk profile.