Keystone Bank Limited
|Headquarters||Victoria Island, Lagos, Lagos State, Nigeria|
|Umaru H. Modibbo
Managing Director and Chief Executive Officer
|Products||Loans, Credit Cards, Savings, Investments, Mortgages|
|Total assets||US$1.916 billion (NGN:307.5 billion)|
Keystone Bank Limited, commonly referred to as Keystone Bank, 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.
Keystone Bank offers banking services to large corporations, public institutions, small-to-medium enterprises (SMEs) and individuals. The bank is a large financial services provider in Nigeria. As of December 2012[update], the bank's total assets were valued at US$1.916 billion (NGN:307.5 billion), with shareholders' equity valued at about US$213.3 million (NGN:34.23 billion).
On Friday 5 August 2011, Keystone Bank Limited was issued a commercial banking license by the Central Bank of Nigeria (CBN). On the same day, CBN revoked the banking license of Bank PHB. Keystone Bank assumed the assets and some liabilities of the now defunct Bank PHB.
On 22 March 2017, Asset Management Company of Nigeria announced that Keystone bank had been sold to investors for 25 billion naira ($81.5 million). It was sold to Sigma Golf-Riverbank consortium.
The bank is 100% owned by the Asset Management Corporation of Nigeria (AMCON), an arm of the Federal Government of Nigeria.
Keystone Bank Group
The bank together with its onshore and offshore subsidiaries, constitute the Keystone Bank Group. The bank's subsidiaries include the following:
- Global Bank Liberia - Monrovia, Liberia
- Orient Bank - Kampala, Uganda
- Keystone Insurance - Lagos, Nigeria
- Keystone Bank (Gambia) Limited - Banjul, Gambia
Some of its products offered to the public includes; QuickSave/ QuickSave Plus, Paytime Accounts, Partner Plus, Active Dom/Dom Extra, Growbiz Account, Future Account, NIDA etc.
After the sale of the bank by AMCON, the bank is now governed by a Transitional Board. The Chairman of the Transitional Board of Keystone Bank Limited is Alhaji Umaru H. Modibbo. The Acting Managing Director and Chief Executive Officer of the bank is Hafiz Bakare. There are three other members of the transitional board of directors at the bank.
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- "December 2012 Financial Statement" (PDF). Keystonebankng.com. Retrieved 15 October 2017.
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- "Audited December 2012 Financial Statement" (PDF). Keystonebankng.com. Retrieved 15 October 2017.
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- "Bank PHB Taken-Over: Story Behind the Story - Daily News from Gambia". dailynews.gm. Retrieved 2017-08-29.
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- Editor, Online (2017-03-28). "Keystone Bank Constitutes Transition Board". THISDAYLIVE. Retrieved 2017-04-06.
- "Keystone Bank appoints Hafiz Bakare as Acting Chief Executive Officer". Financial Nigeria International Limited. Retrieved 2017-04-06.
- "AMCON names new buyers of Keystone Bank - Premium Times Nigeria". Premium Times Nigeria. 2017-03-21. Retrieved 2017-04-06.</ref>
- Homepage of Keystone Bank Limited
- Website of Central Bank of Nigeria
- Federal Government Appoints Leaders of Nationalised Banks
- Interview With Oti Ikomi, Managing Director Keystone Bank In 2012
- Ikeazor appointed Keystone Bank MD/CEO
- Ikeazor resumes as Keystone Bank CEO
- Keystone Bank constitutes Transition Board