Bank PHB
Encyclopedia
Bank PHB , formerly known as Platinum Habib Bank, is a commercial bank
in Nigeria
. The bank is the fifth largest financial services provider in Nigeria.
The bank's assets are valued in excess of US$6 billion.
, headquartered in Lagos
, Nigeria, with subsidiaries in the Gambia, Liberia
, Nigeria
, Sierra Leone
and Uganda
.
).
Commercial bank
After the implementation of the Glass–Steagall Act, the U.S. Congress required that banks engage only in banking activities, whereas investment banks were limited to capital market activities. As the two no longer have to be under separate ownership under U.S...
in Nigeria
Nigeria
Nigeria , officially the Federal Republic of Nigeria, is a federal constitutional republic comprising 36 states and its Federal Capital Territory, Abuja. The country is located in West Africa and shares land borders with the Republic of Benin in the west, Chad and Cameroon in the east, and Niger in...
. The bank is the fifth largest financial services provider in Nigeria.
The bank's assets are valued in excess of US$6 billion.
Bank PHB Group
Bank PHB is a member of the Bank PHB GroupBank PHB Group
Bank PHB Group, also known as Platinum Habib Bank Group, is a financial services organization in West Africa and East Africa. The Group's headquarters are located on Victoria Island in Lagos, Nigeria, with subsidiaries in Nigeria, the Gambia, Liberia, Sierra Leone and Uganda...
, headquartered in Lagos
Lagos
Lagos is a port and the most populous conurbation in Nigeria. With a population of 7,937,932, it is currently the third most populous city in Africa after Cairo and Kinshasa, and currently estimated to be the second fastest growing city in Africa...
, Nigeria, with subsidiaries in the Gambia, Liberia
Liberia
Liberia , officially the Republic of Liberia, is a country in West Africa. It is bordered by Sierra Leone on the west, Guinea on the north and Côte d'Ivoire on the east. Liberia's coastline is composed of mostly mangrove forests while the more sparsely populated inland consists of forests that open...
, Nigeria
Nigeria
Nigeria , officially the Federal Republic of Nigeria, is a federal constitutional republic comprising 36 states and its Federal Capital Territory, Abuja. The country is located in West Africa and shares land borders with the Republic of Benin in the west, Chad and Cameroon in the east, and Niger in...
, Sierra Leone
Sierra Leone
Sierra Leone , officially the Republic of Sierra Leone, is a country in West Africa. It is bordered by Guinea to the north and east, Liberia to the southeast, and the Atlantic Ocean to the west and southwest. Sierra Leone covers a total area of and has an estimated population between 5.4 and 6.4...
and Uganda
Uganda
Uganda , officially the Republic of Uganda, is a landlocked country in East Africa. Uganda is also known as the "Pearl of Africa". It is bordered on the east by Kenya, on the north by South Sudan, on the west by the Democratic Republic of the Congo, on the southwest by Rwanda, and on the south by...
.
History
Bank PHB was formed in 2005 by the merger between Platinum Bank Plc and Habib Nigeria Bank Plc. Since its inception, the bank has pursued a strategy of expansion by the acquisition and creation of subsidiaries within and without its home country of Nigeria. (See Bank PHB GroupBank PHB Group
Bank PHB Group, also known as Platinum Habib Bank Group, is a financial services organization in West Africa and East Africa. The Group's headquarters are located on Victoria Island in Lagos, Nigeria, with subsidiaries in Nigeria, the Gambia, Liberia, Sierra Leone and Uganda...
).