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Bank PHB Group

{{Infobox company

| name = Bank PHB Group

| logo =

| type = Public

| foundation = 2005

| location = Victoria Island, Lagos, Nigeria

| key_people = Abdul Lateef Kolawole Abiola
Chairman
Cyril Chukwumah
Group CEO

| industry = Banking

| products = Banks, Mortgages Investments

| revenue =

| assets = US$3.6 billion+ (2009)

| num_employees =

| homepage = {{URL|www.bankphb.com}}

| traded_as = {{Nigerian Stock Exchange|PHB}}

| successor = Keystone Bank Limited[http://www.keystonebankng.com/aboutusde.php?p=59&mode=content About us - Keystone Bank]

| defunct = August 5, 2011[http://www.vanguardngr.com/2011/08/government-takes-over-three-rescued-banks/ FG takes over Afribank, Bank PHB, Spring Bank]

| predecessor = Platinum Bank Plc
Habib Nigeria Bank Plc

| fate = Insolvency

}}

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.{{Cite web |url=http://www.bankphb.com/uploads/forms/bankphb_abridged_financials2009.pdf |title=Abridged Group Financial Report December 2009 |access-date=2011-01-07 |archive-url=https://web.archive.org/web/20101125023449/http://bankphb.com/uploads/forms/bankphb_abridged_financials2009.pdf |archive-date=2010-11-25 |url-status=dead }}

Member companies

The member companies of Bank PHB Group included:{{Cite web |url=http://www.bankphb.com/live/general/information_center.php?p=9&mode=content |title=Subsidiaries of Bank PHB |access-date=2009-04-29 |archive-url=https://web.archive.org/web/20090217152954/http://bankphb.com/live/general/information_center.php?p=9&mode=content |archive-date=2009-02-17 |url-status=dead }}

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.{{Cite web|url = http://nigeriavillagesquare.com/forum/main-square/64717-cbn-revokes-licenses-3-banks-afribank-spring-bankphb.html|title = CBN revokes the licenses of 3 banks [Afribank, Spring, BankPHB]|date = August 5, 2011|accessdate = August 28, 2014|website = Village Square|publisher = |last = Stanley|first = Oronsaye|archive-date = September 3, 2014|archive-url = https://web.archive.org/web/20140903131035/http://nigeriavillagesquare.com/forum/main-square/64717-cbn-revokes-licenses-3-banks-afribank-spring-bankphb.html|url-status = dead}}

Keystone Bank Limited{{Cite web|url = http://www.keystonebankng.com/aboutusde.php?p=59&mode=content|title = About Keystone Bank Limited|date = |accessdate = August 29, 2014|website = Keystone Bank|publisher = |last = |first = }} 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.{{Cite web|url = https://www.bloomberg.com/news/2011-09-06/afribank-bank-phb-spring-bank-delisted-from-nigeria-bourse-1-.html|title = Afribank, Bank PHB, Spring Bank Delisted From Nigeria Bourse|date = September 5, 2011|accessdate = August 29, 2014|website = Bloomberg|publisher = Bloomberg LLP|last = |first = }}

References

{{reflist}}

External links

  • {{Official website|www.bankphb.com}}
  • [http://www.ngrguardiannews.com/news/article03/indexn2_html?pdate=050109&ptitle=How+Bank+PHB+acquired+Spring+Bank Bank PHB Acquires Spring Bank Plc.]{{Dead link|date=June 2019 |bot=InternetArchiveBot |fix-attempted=yes }}
  • [http://www.newvision.co.ug/D/8/220/679502/Orient_Bank Bank PHB buys 80% of Orient Bank]{{Dead link|date=November 2018 |bot=InternetArchiveBot |fix-attempted=yes }}
  • [https://web.archive.org/web/20160305181740/http://www.google.com/finance?q=NIG:PLATINUM Google Finance listing for Bank PHB Group]
  • [https://web.archive.org/web/20091227181943/http://news.myjoyonline.com/business/200910/36385.asp Bank PHB Withdraws Ghana Application]
  • [https://web.archive.org/web/20110719124845/https://www.bon.com.na/docs/bsp/Microsoft%20Word%20-%20press%20release%20-%20withhdrawal%20of%20Bank%20PHB%20license.pdf Bank of Namibia Withdraws Bank PHB License In Namibia]

Category:Defunct banks of Nigeria

Category:Companies based in Lagos

Category:Companies listed on the Nigerian Stock Exchange