Former type Public Industry Banking Successor Keystone Bank Limited | Traded as NSE :PHB Fate Insolvency | |
Predecessor Platinum Bank Plc
Habib Nigeria Bank Plc | ||
Bank PHB Group, also known as Platinum Habib Bank Group, was a financial services organization in West Africa and East Africa. The Group's headquarters was located on Victoria Island in Lagos, Nigeria, with subsidiaries in Nigeria, the Gambia, Liberia, Sierra Leone and Uganda. Bank PHB Group was one of the largest financial services organizations in Africa, with an estimated asset base in excess of US$3.6 billion, as of December 2009.
Contents
Member Companies
The member companies of Bank PHB Group included but were not limited to the following:
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the assets (including subsidiaries) and liabilities of the now defunct BankPHB, whose commercial banking license had been revoked on the same day.
Following the revocation of the banking licence and takeover of BankPHB, the NSE placed the Group's shares on technical suspension and finally delisted on September 5, 2011.