Enterprise Bank Limited
| Company type | Private |
|---|---|
| Industry | Financial services |
| Predecessor | Spring Bank |
| Founded | 2011 |
| Headquarters | 143 Ahmadu Bello Way Victoria Island, Lagos, Nigeria |
Key people | Sir. Ogala Osoka MFR Chairman Mary Akpobome Ag. Managing Director & CEO |
| Products | Loans, Checking, Savings, Investments, Debit Cards, Credit Cards |
| Revenue |  Pretax:US$70.64 million (NGN:11.3 billion) (2012) |
| Total assets | US$1.63+ billion (NGN:261.1 billion) (2012) |
| Website | Homepage |
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
[edit]Enterprise Bank was a large financial services provider in Nigeria. As of December 2012[update], 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
[edit]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
[edit]As of September 2013[update], 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
[edit]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
[edit]References
[edit]- ^ "Central Bank of Nigeria:: All Financial Institutions". www.cenbank.org. Retrieved 29 August 2017.
- ^ "Nigeria: Journey Towards the Sale of Enterprise Bank". This Day (Lagos). 18 September 2013. Retrieved 29 August 2017.
- ^ "entbankng.com". web.entbankng.com. Retrieved 29 August 2017.
- ^ Chima, Obinna (6 August 2011). "Nigeria: Afribank, Spring Bank, Bank PHB Nationalised". This Day (Lagos). Retrieved 29 August 2017.
- ^ Babajide Komolafe (26 August 2015). "CBN, Court approve Heritage, Enterprise banks merger". Vanguard Media Limited, Nigeria.
- ^ "FG appoints MDs for nationalised banks – Vanguard News". Vanguard News. 8 August 2011. Retrieved 29 August 2017.