Enterprise Bank Limited

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Enterprise Bank Limited
Private
IndustryFinancial Services
PredecessorSpring Bank
Founded2011
Headquarters143 Ahmadu Bello Way
Victoria Island, Lagos, Nigeria
Key people
Sir. Ogala Osoka MFR
Chairman
Mary Akpobome
Ag. Managing Director & CEO
ProductsLoans, Checking, Savings, Investments, Debit Cards, Credit Cards
RevenueIncreasePretax:US$70.64 million (NGN:11.3 billion) (2012)
Total assetsUS$1.63+ billion (NGN:261.1 billion) (2012)
WebsiteHomepage

Enterprise Bank Limited (EBL), also referred to as Enterprise Bank, is a commercial bank in Nigeria. It is licensed as a commercial bank by the Central Bank of Nigeria, the country's banking regulator.[1]

Overview[edit]

Enterprise Bank is a large financial services provider in Nigeria. As of December 2012, the bank's total assets were estimated at about US$1.63 billion (NGN:261.1 billion).[2] According to the bank's website, shareholders' equity was valued at about US$186.5 million (NGN:29.8 billion) in August 2011.[3]

History[edit]

Enterprise Bank was formed in August 2011 by taking over the assets and some of the liabilities of the now defunct Spring Bank, whose commercial banking license was revoked. EBL was issued a commercial banking license on 5 August 2011.[4]

Ownership[edit]

As of September 2013, the assets of Enterprise Bank Limited are 100% owned by Asset Management Company of Nigeria (AMCON), an arm of the Federal Government of Nigeria. In 2015, Enterprise Bank was acquired by Heritage Banking Company Limited after an investment of ₦56 billion.[5]

Governance[edit]

The Chairman of the Board of Directors of Enterprise Bank Limited is Sir. Ogala Osoka MFR. The Managing Director and Chief Executive Officer of the bank is Ahmed Kuru .[6]

See also[edit]

References[edit]

  1. ^ "Central Bank of Nigeria:: All Financial Institutions". www.cenbank.org. Retrieved 2017-08-29.
  2. ^ "Nigeria: Journey Towards the Sale of Enterprise Bank". This Day (Lagos). 2013-09-18. Retrieved 2017-08-29.
  3. ^ "entbankng.com". web.entbankng.com. Retrieved 2017-08-29.
  4. ^ Chima, Obinna (2011-08-06). "Nigeria: Afribank, Spring Bank, Bank PHB Nationalised". This Day (Lagos). Retrieved 2017-08-29.
  5. ^ Babajide Komolafe (26 August 2015). "CBN, Court approve Heritage, Enterprise banks merger". Vanguard Media Limited, Nigeria.
  6. ^ "FG appoints MDs for nationalised banks - Vanguard News". Vanguard News. 2011-08-08. Retrieved 2017-08-29.

External links[edit]