Former type Public
NSE :PHB Defunct August 5, 2011 Headquarters Lagos Ceased operations August 5, 2011 | Industry Banking Successor Keystone Bank Limited Founded 2005 | |
 | ||
Predecessor Platinum Bank Plc
Habib Nigeria Bank Plc Key people Kola Abiola, Chairman
Cyril Chukwumah, Managing Director and Chief Executive Officer Products Loans, Credit Cards, Savings, Investments, Mortgages | ||
Bank phb refill
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. The bank's assets were valued in excess of US$6 billion.
Contents
Gordons talks about the downfall of bank phb
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.
Keystone Bank Limited 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the assets (including subsidiaries) and liabilities of the now defunct BankPHB, whose commercial banking license had been revoked on the same day.