Coronation Merchant Bank ratings upgraded as New Anthoney’s Farms gains sustainability recognition

GCR Ratings has upgraded the national scale long-term and short-term issuer ratings for Coronation Merchant Bank Limited to BBB+(NG) and A2(NG), respectively. The upgrade follows a NGN 32.1 billion equity injection in March 2026, which improved the bank’s core capital ratio to 25.6% as of June 30, 2026. While the bank faces volatile operating revenue and a decline in profit after tax, the enhanced capital position is expected to support future loan book growth.

In Sri Lanka, New Anthoney’s Farms has been recognized as a global sustainability leader at the Soy Connext 2026 summit in Chicago. As the first company in South Asia to secure the Sustainable US Soy licence, the poultry producer utilizes traceable, antibiotic-free feed. This follows an announcement by the International Finance Corporation to invest up to USD 10 million in the New Anthoney’s Farms Group to expand production capacity and strengthen supply chain efficiency.