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

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

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, headquartered in

Lagos Lagos ( ; ), or Lagos City, is a large metropolitan city in southwestern Nigeria. With an upper population estimated above 21 million dwellers, it is the largest city in Nigeria, the most populous urban area on the African continent, and on ...

, Nigeria, with subsidiaries in the

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Liberia Liberia, officially the Republic of Liberia, is a country on the West African coast. It is bordered by Sierra Leone to Liberia–Sierra Leone border, its northwest, Guinea to Guinea–Liberia border, its north, Ivory Coast to Ivory Coast–Lib ...

Nigeria Nigeria, 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 Guinea in the Atlantic Ocean to the south. It covers an area of . With Demographics of Nigeria, ...

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and

Uganda Uganda, officially the Republic of Uganda, is a landlocked country in East Africa. It 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 ...

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 Bank PHB Group).

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 Afri Bank 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 opera ...

and

Spring Bank Spring Bank Plc., also referred to as Spring Bank, was a commercial bank in Nigeria. It was one of the twenty-six (26) commercial banks licensed by the Central Bank of Nigeria, the country's banking regulator at the time. Overview Spring Bank w ...

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