Enterprise Bank Limited (EBL), also known as Enterprise 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 cor ...

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 o ...

. It was licensed as a commercial bank by 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 ...

, the country's banking regulator.

Overview

Enterprise Bank was a large financial services provider in

. , the bank's total assets were estimated at US$1.63 billion (NGN:261.1 billion). According to the bank's website, shareholders' equity was valued at approximately US$186.5 million (NGN:29.8 billion) in August 2011.

History

Enterprise Bank was established in August 2011 through the acquisition of assets and certain liabilities from the now defunct

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 wa ...

, which had its commercial banking license revoked. EBL obtained a commercial banking license on 5 August 2011.

Ownership

, all the assets of Enterprise Bank Limited were 100% owned by Asset Management Company of Nigeria (AMCON), a subsidiary of the Federal Government of Nigeria. In 2015,

Heritage Banking Company Limited Heritage Bank Plc., usually called Heritage Bank, is a financial services institution. It is one of the commercial banks licensed by the Central Bank of Nigeria, the country's banking regulator, with a national operating license, that offers ret ...

acquired Enterprise Bank after making an investment of ₦56 billion.

Governance

The

chairman The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the grou ...

of the

board of directors A board of directors (commonly referred simply as the board) is an executive committee that jointly supervises the activities of an organization, which can be either a for-profit or a nonprofit organization such as a business, nonprofit organiz ...

of Enterprise Bank Limited is Sir Ogala Osoka MFR. The

managing director A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...

and

chief executive officer A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...

of the bank is Ahmed Kuru.

References

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External links