Coronation Merchant Bank targets strong risk rating

Coronation Merchant Bank has said it is committed to good corporate governance standards, even as it unveiled plans to strengthen its risk ratings, as part of competitive strategies.

The Managing Director of the bank, Jimoh Abubakar, who made the pledge, during the lender’s review of its operational strategy in Lagos, said risk management and perception is central to the growth of any organisation.

“Risk management is one of the pillars of our operations and this awareness continues to influence our organizational disposition to risk management and corporate governance. As a Bank, we presently maintain a 77.3% capital adequacy ratio above the regulatory minimum of 10% and subject our operations to very stringent risk management procedures,” Abubakar said.

He noted that in line with its aspiration of becoming Africa’s premier investment bank, it seeks innovative strategies and avenues for boosting its operational efficiency.

According to him, these initiatives include the recruitment of highly skilled bankers with local and international experience to strengthen its various Strategic Business Unit’s (SBU’s) to deliver exceptional benefits to clients and other stakeholders.