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Enterprise Bank Limited

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Enterprise Bank Limited
Company typePrivate
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 known as Enterprise Bank, was a commercial bank in Nigeria. It was licensed as a commercial bank by the Central Bank of Nigeria, the country's banking regulator.[1]

Overview

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

History

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Enterprise Bank was established in August 2011 through the acquisition of assets and certain liabilities from the now defunct Spring Bank, which had its commercial banking license revoked. EBL obtained a commercial banking license on 5 August 2011.[4]

Ownership

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

Governance

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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

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References

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  1. ^ "Central Bank of Nigeria:: All Financial Institutions". www.cenbank.org. Retrieved 29 August 2017.
  2. ^ "Nigeria: Journey Towards the Sale of Enterprise Bank". This Day (Lagos). 18 September 2013. Retrieved 29 August 2017.
  3. ^ "entbankng.com". web.entbankng.com. Retrieved 29 August 2017.
  4. ^ Chima, Obinna (6 August 2011). "Nigeria: Afribank, Spring Bank, Bank PHB Nationalised". This Day (Lagos). Retrieved 29 August 2017.
  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. 8 August 2011. Retrieved 29 August 2017.
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