Bank PHB
|
Public NSE :PHB | |
| Industry | Banking |
| Predecessor |
Platinum Bank Plc Habib Nigeria Bank Plc |
| Successor | Keystone Bank Limited [1] |
| Founded | 2005 |
| Defunct | August 5, 2011 [2] |
| Headquarters | Lagos, Nigeria |
Key people |
Kola Abiola, Chairman[3] Cyril Chukwumah, Managing Director and Chief Executive Officer[4] |
| Products | Loans, Credit Cards, Savings, Investments, Mortgages |
| Revenue |
 US$220 million (2008)[5] |
| Total assets | US$6 billion+ (2008) |
| Website | Homepage |
Bank PHB, formerly known as Platinum Habib Bank, was a commercial bank in Nigeria. The bank was the fifth largest financial services provider in Nigeria. [6] The bank's assets were valued in excess of US$6 billion.[7]
Bank PHB Group
Bank PHB was a member of the Bank PHB Group, headquartered in Lagos, Nigeria, with subsidiaries in the Gambia, Liberia, Nigeria, Sierra Leone and Uganda.
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 revoked the operating licence of BankPHB along with that of Afribank and Spring Bank as they had not shown capacity and ability to recapitalize before the September 30, 2011 recapitalization deadline.[8]
Keystone Bank Limited[9] was formed in 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the assets (including subsidiaries) and liabilities of the now defunct BankPHB, whose commercial banking license had been revoked on the same day.
See also
References
- ↑ About Keystone Bank Limited
- ↑ FG takes over Afribank, Bank PHB, Spring Bank
- ↑ Kola Abiola Is Chairman of Bank PHB
- ↑ Cyril Chukwumah is MD/CEO of Bank PHB
- ↑ Bank PHB Profits in 2008
- ↑ Bank PHB is 5th Largest Bank in Nigeria
- ↑ Bank PHB Financials 2008
- ↑ Stanley, Oronsaye (August 5, 2011). "CBN revokes the licenses of 3 banks [Afribank, Spring, BankPHB]". Village Square. Retrieved August 28, 2014.
- ↑ "About Keystone Bank Limited". Keystone Bank. Retrieved August 29, 2014.