Bank PHB
























































Bank PHB
Former type
Public
NSE :PHB
Industry Banking
Predecessor Platinum Bank Plc
Habib Nigeria Bank Plc
Successor
Keystone Bank Limited [2]
Founded 2005
Defunct August 5, 2011 [1]
Headquarters
Lagos, Lagos State, Nigeria
Key people
 Kola Abiola, Chairman[3]
Cyril Chukwumah, Managing Director and Chief Executive Officer[4]
Products
Loans, Credit Cards, Savings, Investments, Mortgages
Revenue
Increase US$220 million (2008)[5]
Total assets US$6 billion+ (2008)
Website Homepage

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.
[6] The bank's assets were valued in excess of US$6 billion.[7]




Contents






  • 1 Bank PHB Group


  • 2 History


  • 3 Failure and closure


  • 4 See also


  • 5 References


  • 6 External links





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.[8]


Keystone Bank Limited[9] 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the assets (including subsidiaries) and liabilities of the now defunct BankPHB, whose commercial banking license had been revoked on the same day.



See also



  • Bank PHB Group

  • List of banks in Nigeria

  • Orient Bank

  • Keystone Bank Limited



References





  1. ^ FG takes over Afribank, Bank PHB, Spring Bank


  2. ^ About Keystone Bank Limited


  3. ^ Kola Abiola Is Chairman of Bank PHB


  4. ^ Cyril Chukwumah is MD/CEO of Bank PHB


  5. ^ Bank PHB Profits in 2008[permanent dead link]


  6. ^ Bank PHB is 5th Largest Bank in Nigeria[permanent dead link]


  7. ^ Bank PHB Financials 2008


  8. ^ Stanley, Oronsaye (August 5, 2011). "CBN revokes the licenses of 3 banks [Afribank, Spring, BankPHB]". Village Square. Retrieved August 28, 2014..mw-parser-output cite.citation{font-style:inherit}.mw-parser-output q{quotes:"""""""'""'"}.mw-parser-output code.cs1-code{color:inherit;background:inherit;border:inherit;padding:inherit}.mw-parser-output .cs1-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/6/65/Lock-green.svg/9px-Lock-green.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .cs1-lock-limited a,.mw-parser-output .cs1-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/d/d6/Lock-gray-alt-2.svg/9px-Lock-gray-alt-2.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .cs1-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/thumb/a/aa/Lock-red-alt-2.svg/9px-Lock-red-alt-2.svg.png")no-repeat;background-position:right .1em center}.mw-parser-output .cs1-subscription,.mw-parser-output .cs1-registration{color:#555}.mw-parser-output .cs1-subscription span,.mw-parser-output .cs1-registration span{border-bottom:1px dotted;cursor:help}.mw-parser-output .cs1-hidden-error{display:none;font-size:100%}.mw-parser-output .cs1-visible-error{font-size:100%}.mw-parser-output .cs1-subscription,.mw-parser-output .cs1-registration,.mw-parser-output .cs1-format{font-size:95%}.mw-parser-output .cs1-kern-left,.mw-parser-output .cs1-kern-wl-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right,.mw-parser-output .cs1-kern-wl-right{padding-right:0.2em}


  9. ^ "About Keystone Bank Limited". Keystone Bank. Retrieved August 29, 2014.




External links



  • Bank PHB Homepage

  • Google Finance listing for Bank PHB














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