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Keystone Bank Limited was founded in 2005 by the African Continental Bank Limited.
The bank is headquartered in Lagos, Nigeria.
Keystone Bank Limited is one of the largest banks in Nigeria, with a large customer base and a strong presence across the country.
The bank offers a wide range of financial services, including corporate banking, retail banking, and investment banking.
Keystone Bank Limited has a strong commitment to innovation and technology, with a focus on using digital channels to improve customer service and efficiency.
History of Keystone Bank
Keystone Bank was issued a commercial banking license by the Central Bank of Nigeria (CBN) on Friday, August 5, 2011.
This marked a significant milestone for the bank, as it was able to assume the assets and some liabilities of the now defunct Bank PHB on the same day.
On March 22, 2017, Asset Management Company of Nigeria announced that Keystone bank had been sold to Sigma Golf-Riverbank consortium for 25 billion naira, which is equivalent to $81.5 million.
Early Years
Keystone Bank Limited was issued a commercial banking license by the Central Bank of Nigeria (CBN) on Friday 5 August 2011. This marked the beginning of the bank's journey.
On the same day, CBN revoked the banking license of Bank PHB, paving the way for Keystone Bank to assume its assets and some liabilities.
Keystone Bank took over the assets and liabilities of the now defunct Bank PHB, starting a new chapter in its history.
Milestones
Keystone Bank has a rich history, and we're excited to share some of its key milestones with you.
In 2005, Keystone Bank was established as a commercial bank to provide financial services to individuals, businesses, and organizations in Nigeria.
The bank's early years were marked by steady growth and expansion, with a focus on delivering innovative banking solutions to its customers.
In 2008, Keystone Bank acquired the assets and liabilities of Bank PHB, one of Nigeria's leading banks at the time, significantly increasing its customer base and market share.
Keystone Bank's commitment to customer satisfaction and financial inclusion led to the introduction of several groundbreaking products and services, including mobile banking and online banking platforms.
Today, Keystone Bank is one of Nigeria's leading banks, with a strong presence in the country's financial sector and a reputation for excellence in customer service and financial innovation.
Bank Information
Keystone Bank Limited offers a range of banking services to its customers.
The bank has a wide network of branches and ATMs across the country, making it easily accessible to its customers.
Keystone Bank Limited operates Monday to Friday from 8am to 4pm, with a half-day on Fridays.
For customers who prefer online banking, Keystone Bank Limited has a user-friendly online platform that allows for easy transactions and account management.
Ownership Structure
The bank's ownership structure has undergone a significant change in recent years.
The bank was previously owned by the Asset Management Corporation of Nigeria (AMCON), an arm of the Federal Government of Nigeria.
In March 2017, it was acquired by the Sigma Golf River Bank Consortium.
This acquisition marked a new chapter in the bank's history.
The bank is now owned by the Sigma Golf River Bank Consortium.
Branch Network
The bank has a significant presence in Nigeria, with over 150 business offices and locations across the country.
These offices are spread across all the states of Nigeria, making it easily accessible to the public.
Some of the products offered by the bank include QuickSave/ QuickSave Plus, which is a type of savings account.
Additionally, the bank offers Paytime Accounts, Partner Plus, and Active Dom/Dom Extra, among others, to cater to different customer needs.
The bank's extensive network and diverse product offerings make it a convenient option for Nigerians seeking banking services.
Frequently Asked Questions
Which bank merged with Keystone Bank?
Keystone Bank was created from the takeover of BankPHB, whose commercial banking license was revoked on August 5, 2011. BankPHB's assets and liabilities were transferred to Keystone Bank on the same day.
What happened with Keystone Bank?
On January 10, 2024, the Central Bank of Nigeria dissolved the board and management of Keystone Bank as part of a compliance crackdown. This action was taken to address potential issues at the bank.
What is the credit rating of Keystone Bank Limited?
Keystone Bank Limited has a "B-" credit rating, indicating a moderate level of creditworthiness. This rating was assigned by Agusto & Co., Nigeria's first credit rating company.
Sources
- https://en.wikipedia.org/wiki/Keystone_Bank_Limited
- https://ha.wikipedia.org/wiki/Keystone_Bank_Limited
- https://www.agusto.com/ratings/agusto-co-assigns-a-b-rating-and-stable-outlook-to-keystone-bank-limited/
- https://internationalbanker.com/banking/interview-with-mr-obeahon-ohiwerei-ceo-of-keystone-bank-limited/
- https://punchng.com/amcon-set-to-sell-keystone-bank/
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