Bank PHB, formerly known as Platinum Habib Bank, was a

commercial bank A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit. It can also refer to a bank, or a division of a large bank, which deals with co ...

in Nigeria. The bank was the fifth largest financial services provider in Nigeria. The bank's assets were valued in excess of US$6 billion. Key Officers Francis Atuche- CEO /MD of Bank PHB

Bank PHB Group

Bank PHB was a member of the

Bank PHB Group Bank PHB Group, also known as Platinum Habib Bank Group, was a financial services organization in West Africa and East Africa. The Group's headquarters was located on Victoria Island in Lagos, Nigeria, with subsidiaries in Nigeria, the Gambia, Lib ...

, headquartered in

Lagos Lagos ( Nigerian English: ; ) is the largest city in Nigeria and the second most populous city in Africa, with a population of 15.4 million as of 2015 within the city proper. Lagos was the national capital of Nigeria until December 1991 f ...

, Nigeria, with subsidiaries in the

Gambia The Gambia,, ff, Gammbi, ar, غامبيا officially the Republic of The Gambia, is a country in West Africa. It is the smallest country within mainland AfricaHoare, Ben. (2002) ''The Kingfisher A-Z Encyclopedia'', Kingfisher Publicatio ...

Liberia Liberia (), officially the Republic of Liberia, is a country on the West African coast. It is bordered by Sierra Leone to its northwest, Guinea to its north, Ivory Coast to its east, and the Atlantic Ocean to its south and southwest. It ...

Nigeria Nigeria ( ), , ig, Naìjíríyà, yo, Nàìjíríà, pcm, Naijá , ff, Naajeeriya, kcg, Naijeriya officially the Federal Republic of Nigeria, is a country in West Africa. It is situated between the Sahel to the north and the Gulf of G ...

Sierra Leone Sierra Leone,)]. officially the Republic of Sierra Leone, is a country on the southwest coast of West Africa. It is bordered by Liberia to the southeast and Guinea surrounds the northern half of the nation. Covering a total area of , Sierra ...

and

Uganda }), is a landlocked country in East Africa. The country is bordered to the east by Kenya, to the north by South Sudan, to the west by the Democratic Republic of the Congo, to the south-west by Rwanda, and to the south by Tanzania. The south ...

History

Bank PHB was formed in 2005 by the merger between Platinum Bank Plc and Habib Nigeria Bank Plc. Since its inception, the bank pursued a strategy of expansion by the acquisition and creation of subsidiaries within and without its home country of Nigeria. (See

Failure and closure

On August 5, 2011, the

Central Bank of Nigeria The Central Bank of Nigeria (CBN) is the central bank and apex monetary authority of Nigeria established by the CBN Act of 1958 and commenced operations on 1 July 1959. The major regulatory objectives of the bank as stated in the CBN Act are t ...

revoked the operating licence of BankPHB along with that of

Afribank Afribank Nigeria PLC was a commercial banking, real estate and insurance broker based in Lagos, Nigeria. It was established by French investors in 1959 under the name ''Banque Internationale pour l'Afrique Occidentale'' (BAIO). As at 2010, the bank ...

and Spring Bank as they had not shown capacity and ability to recapitalize before the September 30, 2011 recapitalization deadline.

Keystone Bank Limited Keystone Bank Limited, is a commercial bank in Nigeria. The bank is one of the commercial banks licensed by the Central Bank of Nigeria, the national banking regulator. Overview Keystone Bank offers banking services to large corporations, publi ...

was created on August 5, 2011, by taking over all the assets (including subsidiaries) and liabilities of the now defunct BankPHB, whose commercial banking license had been revoked on the same day.

References

External links

Bank PHB HomepageGoogle Finance listing for Bank PHB
Companies listed on the Nigerian Stock Exchange Defunct companies based in Lagos Defunct banks of Nigeria Banks established in 2005 2011 disestablishments in Nigeria Banks disestablished in 2011 Nigerian companies established in 2005 {{Nigeria-company-stub

Bank PHB Group

History

Failure and closure

See also

References

External links