Enterprise Bank Limited

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]

This article is about the Nigerian bank. For the bank in Florida, United States, see Enterprise Bank. For the bank in the Philippines, see Enterprise Bank, Inc..

Enterprise Bank Limited
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

Overview

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

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

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

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

References
  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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