Bank PHB Group, also known as Platinum Habib Bank Group, was a financial services organization in West Africa and East Africa. The Group's headquarters was located on Victoria Island in Lagos, Nigeria, with subsidiaries in Nigeria, the Gambia, Liberia, Sierra Leone and Uganda. Bank PHB Group was one of the largest financial services organizations in Africa, 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 - Lagos, Nigeria Bank PHB Gambia - Banjul, Gambia Bank PHB Liberia - Monrovia, Liberia Bank PHB Sierra Leone - Freetown, Sierra Leone Insurance PHB Limited - Lagos, Nigeria Mortgages PHB Limited - Lagos, Nigeria Orient Bank - Kampala, Uganda 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 revoked the operating licence of BankPHB, along with those of Afribank and Spring Bank, as they had not shown capacity to recapitalize before the September 30, 2011 recapitalization deadline.
Keystone Bank Limited 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the assets (including subsidiaries) and liabilities of the now defunct BankPHB, whose commercial banking license had been revoked on the same day.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 placed the Group's shares on technical suspension and finally delisted on September 5, 2011.
References
External links
Bank PHB Acquires Spring Bank Plc. Bank PHB buys 80% of Orient Bank Google Finance listing for Bank PHB Group Bank PHB Withdraws Ghana Application Bank of Namibia Withdraws Bank PHB License In Namibia