Industry Banking Founded 2011 | Website Homepage Type of business Private | |
Key people Jacobs Moyo AjekigbeChairmanPhilip IkeazorManaging Director and Chief Executive Officer Products Loans, Credit Cards, Savings, Investments, Mortgages Total assets US$1.916 billion (NGN:307.5 billion) CEO Philip Ikeazor (Mar 2013–) Subsidiaries Orient Bank, Keystone Bank Gambia Limited | ||
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.
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Overview
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, 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).
History
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.
Ownership
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:
Branch network
According to its website, the bank maintains a network of over 200 business offices and locations in all the states of Nigeria.
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.
Governance
The Chairman of the Board of Directors of Keystone Bank Limited is Jacobs Moyo Ajekigbe. The Managing Director and Chief Executive Officer of the bank is Philip Ikeazor. There are five other members of the board of directors at the bank.