Keystone Bank Limited

Keystone Bank Limited,ni ile ifowopamo kan ni Nigeria. O je lara ile ifowopamo ti o gba iwe ofin lowo Ile ifowopamo olu ilu ile Nigeria, the national banking regulator.

Keystone Bank Limited

Keystone Logo.png
Type	Private
Founded	2011
Headquarters	Victoria Island, Lagos, Nigeria
Key people	Umaru H. Modibbo Chairman Olaniran Olayinka Managing director and Chief executive officer
Industry	Banking
Products	Loans, credit cards, savings, investments, online banking
Total assets	US$1.916 billion (NGN:307.5 billion)
Website	keystonebankng.com

Overview

Keystone Bank ma n fun eto gbigba Owo ati ti toju Owo fun awón kopirason nla, Ile-ise Ijoba, Ile-ise kekere ati awon eeyan. Ile-ise ifowopamo nla ni Keystone Bank je ti o n fun awón eeyan ni awon nnkan ti o ni se pelu Owo ni ilu Nigeria. Àdàkọ:Asof, gbogbo Owo ninu isunwon ile ifowopamo naa je US$1.916 billion (NGN:307.5 billion), pelu Owo inu isunwon awón shareholders ti o je US$213.3 million (NGN:34.23 billion).

Itan

Ni ojo Eti, ojo karun-un osu kejo odun 2011, ni a fun Keystone Bank Limited ni iwe ofin lati Ile- ifowopamo olu ilu Nigeria (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.^{[citation needed]}

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

After the sale of the bank by AMCON, the bank is now governed by a substantive Board of Directors. The Chairman of the Board of Keystone Bank Limited is Alhaji Umaru H. Modibbo. The managing director and chief executive officer of the bank is Olaniran Olayinka who was appointed in March 2020 shortly after the exit of the acting MD/CEO, Mr. Abubakar Danlami Sule. The current executive directors of the bank include; Messrs Tijjani Aliyu, Adeyemi Odusaya and Lawal Jibrin Ahmed.

See also

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

Other sources

• "AMCON names new buyers of Keystone Bank – Premium Times Nigeria" (in en-GB). Premium Times Nigeria. 2017-03-21. http://www.premiumtimesng.com/news/headlines/226699-amcon-names-new-buyers-keystone-bank.html. </ref>

{{Short description|Nigerian commercial bank}}

{{Use dmy dates|date=November 2021}}

{{Infobox company

| name = Keystone Bank Limited

| logo = Keystone Logo.png

| logo_caption =

| type = [[Private company|Private]]

| industry = [[Bank]]ing

| foundation = 2011

| location = [[Victoria Island, Lagos]], Nigeria

| key_people = '''Umaru H. Modibbo'''<br/> [[Chairman]]<br/> '''Olaniran Olayinka'''<br/> [[Managing director]] and [[Chief executive officer]]<ref>{{Cite web|url=https://www.keystonebankng.com/Board_of_directorsb.php|title=Keystone Bank &#124;Board of Directors|accessdate=22 April 2023}}</ref>

| products = [[Loans]], [[credit card]]s, [[savings]], [[investments]], [[online banking]]

| revenue =

| assets = US$1.916 billion (NGN:307.5 billion)<ref>{{cite web|url=http://www.keystonebankng.com/2012AnnualReport/4.%20FINANCIALS%20pages%2051%20to%2073.pdf|title=December 2012 Financial Statement|website=Keystonebankng.com|accessdate=15 October 2017}}</ref>

| num_employees =

| homepage = {{url|www.keystonebankng.com}}

}}

'''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.<ref>{{Cite web|url=http://www.cenbank.org/Supervision/Inst-DM.asp|title=Central Bank of Nigeria {{!}} Commercial Banks|website=Cenbank.org|language=en|access-date=2017-08-29}}</ref>

==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]]. {{asof|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).<ref>{{cite web|url=http://www.keystonebankng.com/2012AnnualReport/4.%20FINANCIALS%20pages%2051%20to%2073.pdf|title=Audited December 2012 Financial Statement|website=Keystonebankng.com|accessdate=15 October 2017}}</ref>

==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.<ref>{{Cite news|url=http://allafrica.com/stories/201108060011.html|title=Nigeria: Afribank, Spring Bank, Bank PHB Nationalised|last=Chima|first=Obinna|date=2011-08-06|work=This Day (Lagos)|access-date=2017-08-29}}</ref>

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.<ref name=":0">{{Cite news|url=https://www.thisdaylive.com/index.php/2017/03/21/finally-amcon-sells-keystone-bank-for-n25bn-to-new-investors/|title=Finally, AMCON Sells Keystone Bank for N25bn to New Investors|date=2017-03-21|work=[[This Day]]|access-date=2017-04-06|language=en-US}}</ref>

==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.{{Citation needed|date=June 2022}}

==Keystone Bank Group==

The bank together with its onshore and offshore subsidiaries, constitute the '''Keystone Bank Group'''. The bank's subsidiaries include the following:<ref>{{Cite web|url=http://www.keystonebankng.com/informationcentre.php?p=9&mode=content|title=Keystone Bank {{!}} Convenience & Reliability : Information Centre »|last=James|first=Ikpeme|website=Keystonebankng.com|access-date=2017-08-29}}</ref>

* [[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]].<ref>{{Cite web|url=http://www.keystonebankng.com/aboutusde.php?p=55&mode=content|title=Keystone Bank {{!}} Convenience & Reliability : Inside Keystone Bank »|last=James|first=Ikpeme|website=Keystonebankng.com|access-date=2017-08-29}}</ref>

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==

After the sale of the bank by AMCON, the bank is now governed by a substantive Board of Directors.<ref name=":1">{{Cite news|url=https://www.thisdaylive.com/index.php/2017/03/29/keystone-bank-constitutes-transition-board/|title=Keystone Bank Constitutes Transition Board|date=2017-03-28|work=This Day|access-date=2017-04-06|language=en-US}}</ref> The [[Chairman]] of the [[Board of Directors|Board]] of Keystone Bank Limited is '''Alhaji Umaru H. Modibbo'''. The [[managing director]] and [[chief executive officer]] of the bank is '''Olaniran Olayinka'''<ref>{{cite web |title=Keystone bank Appoints Olaniran Olayinka as Acting MD-CEO |url=http://www.africanreview.com/finance/banking-a-finance/keystone-bank-appoints-olaniran-olanyinka-as-acting-managing-director |publisher=African Review |accessdate=17 April 2020 |ref=11|date=17 April 2020 }}</ref> who was appointed in March 2020 shortly after the exit of the acting MD/CEO, Mr. Abubakar Danlami Sule. The current executive directors of the bank include; Messrs Tijjani Aliyu, Adeyemi Odusaya and Lawal Jibrin Ahmed.<ref>{{Cite web|url=https://nairametrics.com/2019/08/07/keystone-bank-gets-new-directors/|title=Keystone Bank gets new directors|first=Joseph|last=Olaoluwa|date=7 August 2019|website=nairametrics.com|accessdate=22 April 2023}}</ref>

==See also==

{{Portal|Banks}}

* [[Bank PHB]]

* [[Central Bank of Nigeria]]

* [[Economy of Nigeria]]

* [[Orient Bank]]

* [[List of banks in Nigeria]]

==References==

{{reflist}}

==Other sources==

• {{Cite news|url=http://www.premiumtimesng.com/news/headlines/226699-amcon-names-new-buyers-keystone-bank.html|title=AMCON names new buyers of Keystone Bank – Premium Times Nigeria|date=2017-03-21|work=Premium Times Nigeria|access-date=2017-04-06|language=en-GB}}</ref>

==External links==

*[http://www.keystonebankng.com/ Homepage of Keystone Bank Limited]

*[http://www.cenbank.org/ Website of Central Bank of Nigeria]

*[http://www.vanguardngr.com/2011/08/fg-appoints-mds-for-nationalised-banks/ Federal Government Appoints Leaders of Nationalised Banks]

*[http://allafrica.com/stories/201208280495.html Interview With Oti Ikomi, Managing Director Keystone Bank In 2012]

*[http://www.thisdaylive.com/articles/ikeazor-appointed-keystone-bank-md-ceo/137998/ Ikeazor appointed Keystone Bank MD/CEO]

*[http://www.thisdaylive.com/articles/ikeazor-resumes-as-keystone-bank-ceo/142145/ Ikeazor resumes as Keystone Bank CEO]

*[https://www.thisdaylive.com/index.php/2017/03/29/keystone-bank-constitutes-transition-board/ Keystone Bank constitutes Transition Board]

*[https://www.premiumtimesng.com/business/323180-keystone-bank-names-acting-md-ceo.html/ Keystone Bank Names Acting MD-CEO]

*[http://www.africanreview.com/finance/banking-a-finance/keystone-bank-appoints-olaniran-olanyinka-as-acting-managing-director/ Keystone Bank Appoints Olaniran Olayinka]

[[Category:Banks of Nigeria]]

[[Category:Banks established in 2011]]

[[Category:Companies based in Lagos]]

[[Category:Nigerian companies established in 2011]]