Bank PHB

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Bank PHB
Public
NSE :PHB
Industry Banking
Predecessor Platinum Bank Plc
Habib Nigeria Bank Plc
Successor Keystone Bank Limited [2]
Founded 2005
Defunct August 5, 2011 [1]
Headquarters Lagos, Lagos State, Nigeria
Key people
Kola Abiola, Chairman[3]
Cyril Chukwumah, Managing Director and Chief Executive Officer[4]
Products Loans, Credit Cards, Savings, Investments, Mortgages
Revenue Increase 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[edit]

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[edit]

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[edit]

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the assets (including subsidiaries) and liabilities of the now defunct BankPHB, whose commercial banking license had been revoked on the same day.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[edit]

References[edit]

External links[edit]