Bank PHB Group, also known as Platinum Habib Bank Group, was a financial services organization in

West Africa West Africa or Western Africa is the westernmost region of Africa. The United Nations defines Western Africa as the 16 countries of Benin, Burkina Faso, Cape Verde, The Gambia, Ghana, Guinea, Guinea-Bissau, Ivory Coast, Liberia, Mali, Maurit ...

and

East Africa East Africa, Eastern Africa, or East of Africa, is the eastern subregion of the African continent. In the United Nations Statistics Division scheme of geographic regions, 10-11-(16*) territories make up Eastern Africa: Due to the historical ...

. The Group's headquarters was located on

Victoria Island Victoria Island ( ikt, Kitlineq, italic=yes) is a large island in the Arctic Archipelago that straddles the boundary between Nunavut and the Northwest Territories of Canada. It is the List of islands by area, eighth-largest island in the world, ...

Lagos Lagos (Nigerian English: ; ) is the largest city in Nigeria and the List of cities in Africa by population, second most populous city in Africa, with a population of 15.4 million as of 2015 within the city proper. Lagos was the national ca ...

Nigeria Nigeria ( ), , ig, Naìjíríyà, yo, Nàìjíríà, pcm, Naijá , ff, Naajeeriya, kcg, Naijeriya officially the Federal Republic of Nigeria, is a country in West Africa. It is situated between the Sahel to the north and the Gulf o ...

, with subsidiaries in

, the

Gambia The Gambia,, ff, Gammbi, ar, غامبيا officially the Republic of The Gambia, is a country in West Africa. It is the smallest country within mainland AfricaHoare, Ben. (2002) ''The Kingfisher A-Z Encyclopedia'', Kingfisher Publicatio ...

Liberia Liberia (), officially the Republic of Liberia, is a country on the West African coast. It is bordered by Sierra Leone to Liberia–Sierra Leone border, its northwest, Guinea to its north, Ivory Coast to its east, and the Atlantic Ocean ...

Sierra Leone Sierra Leone,)]. officially the Republic of Sierra Leone, is a country on the southwest coast of West Africa. It is bordered by Liberia to the southeast and Guinea surrounds the northern half of the nation. Covering a total area of , Sierra ...

and

Uganda }), is a landlocked country in East Africa East Africa, Eastern Africa, or East of Africa, is the eastern subregion of the African continent. In the United Nations Statistics Division scheme of geographic regions, 10-11-(16*) territor ...

. Bank PHB Group was one of the largest financial services organizations in

Africa Africa is the world's second-largest and second-most populous continent, after Asia in both cases. At about 30.3 million km2 (11.7 million square miles) including adjacent islands, it covers 6% of Earth's total surface area ...

, with an estimated asset base in excess of US$3.6 billion, as of December 2009.

Member companies

The member companies of Bank PHB Group included: *

Bank PHB 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. The bank's assets were valued in excess of US$6 billion. Key Officers Francis Atuche- CEO ...

* Bank PHB Gambia -

Banjul Banjul (,"Banjul"
(US) and ), officially the City of Ba ...

* Bank PHB Liberia -

Monrovia Monrovia () is the capital city of the West African country of Liberia. Founded in 1822, it is located on Cape Mesurado on the Atlantic coast and as of the 2008 census had 1,010,970 residents, home to 29% of Liberia’s total population. As the ...

* Bank PHB Sierra Leone -

Freetown Freetown is the capital and largest city of Sierra Leone. It is a major port city on the Atlantic Ocean and is located in the Western Area of the country. Freetown is Sierra Leone's major urban, economic, financial, cultural, educational and p ...

* Insurance PHB Limited - Lagos, Nigeria * Mortgages PHB Limited - Lagos, Nigeria *

Orient Bank I&M Bank Uganda, formerly Orient Bank, whose complete name is I&M Bank (Uganda) Limited, is a commercial bank in Uganda which is licensed by the Bank of Uganda (BOU), the central bank and national banking regulator. Location The bank's headqua ...

Kampala Kampala (, ) is the capital and largest city of Uganda. The city proper has a population of 1,680,000 and is divided into the five political divisions of Kampala Central Division, Kawempe Division, Makindye Division, Nakawa Division, and Ruba ...

* PHB Asset Management - Lagos, Nigeria * PHB HealthCare Limited - Lagos, Nigeria * Platinum Capital Limited - Lagos, Nigeria * Spring Bank Plc. - Lagos, Nigeria

Failure and closure

On August 5, 2011, the

Central Bank of Nigeria The Central Bank of Nigeria (CBN) is the central bank and apex monetary authority of Nigeria established by the CBN Act of 1958 and commenced operations on 1 July 1959. The major regulatory objectives of the bank as stated in the CBN Act are ...

revoked the operating licence of BankPHB, along with those of

Afribank Afribank Nigeria PLC was a commercial banking, real estate and insurance broker based in Lagos, Nigeria. It was established by French investors in 1959 under the name ''Banque Internationale pour l'Afrique Occidentale'' (BAIO). As at 2010, the bank ...

and

Spring Bank Spring Bank Plc., also referred to as Spring Bank, was a commercial bank in Nigeria. It was one of the twenty-six (26) commercial banks licensed by the Central Bank of Nigeria, the country's banking regulator at the time. Overview Spring Bank wa ...

, as they had not shown capacity to recapitalize before the September 30, 2011 recapitalization deadline.

Keystone Bank Limited Keystone Bank Limited, 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. Overview Keystone Bank offers banking services to large corporations, publ ...

was formed on 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. Following the revocation of the banking licence and takeover of BankPHB, the

Nigeria Stock Exchange The Nigerian Stock Exchange (NSE) now Nigerian Exchange Group is a Nigerian stock exchange founded in 1961 in Lagos. As of November 2019, it has a total of 161 listed companies, with 8 domestic companies on the premium board, 144 companies on the ...

placed the Group's shares on technical

suspension Suspension or suspended may refer to: Science and engineering * Suspension (topology), in mathematics * Suspension (dynamical systems), in mathematics * Suspension of a ring, in mathematics * Suspension (chemistry), small solid particles suspend ...

and finally

delisted In corporate finance, a listing refers to the company's shares being on the list (or board) of stock that are officially traded on a stock exchange. Some stock exchanges allow shares of a foreign company to be listed and may allow dual listing, sub ...

on September 5, 2011.

References

External links

*
Bank PHB Acquires Spring Bank Plc.

Bank PHB buys 80% of Orient Bank
{Dead link, date=November 2018 , bot=InternetArchiveBot , fix-attempted=yes
Google Finance listing for Bank PHB GroupBank PHB Withdraws Ghana ApplicationBank of Namibia Withdraws Bank PHB License In Namibia
Defunct banks of Nigeria Companies based in Lagos Companies listed on the Nigerian Stock Exchange