• Source: 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, public institutions, small to medium enterprises (SMEs) and individuals. The bank is a large financial services provider in Nigeria. As of December 2012, the bank's total assets were valued at US$1.916 billion (NGN:307.5 billion), with shareholders' equity valued at about US$213.3 million (NGN:34.23 billion).




History


On Friday 5 August 2011, Keystone Bank Limited was issued a commercial banking license by the Central Bank of Nigeria (CBN). On the same day, CBN revoked the banking license of Bank PHB. Keystone Bank assumed the assets and some liabilities of the now defunct Bank PHB.
On 22 March 2017, Asset Management Company of Nigeria announced that Keystone bank had been sold to investors for 25 billion naira ($81.5 million). It was sold to Sigma Golf-Riverbank consortium.




Ownership


The bank was previously owned by the Asset Management Corporation of Nigeria (AMCON), an arm of the Federal Government of Nigeria.
The bank is currently owned by Sigma Golf River Bank Consortium after being acquired from the Asset Management Corporation of Nigeria (AMCON) in March 2017.




Keystone Bank Group


The bank together with its onshore and offshore subsidiaries, constitute the Keystone Bank Group. The bank's subsidiaries include the following:

Global Bank Liberia – Monrovia, Liberia
Keystone Insurance – Lagos, Nigeria




Branch network


According to its website, the bank maintains a network of over 150 business offices and locations in all the states of Nigeria.
Some of its products offered to the public includes; QuickSave/ QuickSave Plus, Paytime Accounts, Partner Plus, Active Dom/Dom Extra, Growbiz Account, Future Account, NIDA etc.




Governance


As of January 2024, the managing director and chief executive officer of the bank is Hassan Imam The executive director of Keystone Bank Limited is Nnenna Anyim Okoro.




Awards


The Bank was awarded Retail Bank of the Year at the African Industrial and Development Conference and Awards (AIDCA) in 2024.
It got the Nigeria’s Most Innovative Retail Bank of the year, and the Africa’s Best Customer Service Provider respectively in 2018 at the International Bankers' Award Ceremony.




See also



Bank PHB
Central Bank of Nigeria
Economy of Nigeria
Orient Bank
List of banks in Nigeria




References






External links


Homepage of Keystone Bank Limited
Website of Central Bank of Nigeria
AMCON names new buyers of Keystone Bank As at 21 March 2017.

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