Co-operative Bank Plc "Cooperation par Excellence"
The grandfather of the family, Co-operative Bank Plc was set up in 1953 as a financing agency for the Co-operative Movement of the former Western Region of Nigeria however in line with the Banking Ordinance in 1961, the Bank registered as a commercial bank the next year after which, it opened its doors to the general public. Prior to the merger, the bank was the only regional cooperative bank in existence as those of the eastern and northern region were defunct and had ceased to exist.
The Bank which targeted traders, co-operators and artisans, started with one branch in Ibadan, expanding first to the rural then later the urban areas of Western Nigeria. It had a Co-operative shareholding structure with 40% owned by Co-op Investment & Trust, Unions and Societies; the rest was held by corporate bodies, individuals and members of staff.
From the first Ibadan branch, the bank grew to have 73 branches across the country and became noted for financing Cocoa export – a favoured pursuit of the co-operative movement. Co-operative Bank Plc was the first to be awarded the best Export Trade financing Bank Trophy in 1991 by the Nigerian Export Import Bank.
Eko International Bank "Dynamic in Service"
Eko International Bank was incorporated as a Private Limited Liability Company on March 24 1986 with an authorized share capital of N10.0million and commenced banking operations on June 13 1988. While re-branding, its name was changed to EIB International Bank Plc and its head office moved to the magnificent building constructed at the Alausa area of Ikeja close to the seat of the State Government. Before the merger, the Bank had a total of 32 branches and cash centres located in various parts of the country.
In 2005, the Bank increased its shareholders fund to N8billion through its Initial Public Offer. It was involved in a couple of real estate projects in partnership with Lagos state government. EIB had its strengths in Retail/Consumer banking, Project Finance and Public Sector Funds Administration.
Prudent Bank "The symbol of relationship"
Prudent Bank was originally incorporated as Prudent Merchant Bank Limited on December 08, 1989 with initial authorized share capital of N12.0 million. It operated as a merchant bank until February 2000 when the Central Bank of Nigeria granted it a license to carry on universal banking business in Nigeria. In March 2005, Prudent Bank raised its shareholders funds to N16billion. Before the consolidation, the Bank operated from a total of 36 branches located in key commercial centres of the country. The Bank was involved in various property development projects as part of its commitment to developing the real estate sector and supporting government’s desire to alleviate the housing problems of the nation. Prudent Bank was recognised for its competence in Project Finance, Commercial Banking, and Public Sector Funds Management.
Reliance Bank Limited "Realise your Dreams"
Commencing banking operations in 2001, Reliance Bank Limited placed emphasis on information & communication technology from the beginning. It concentrated on serving the business nerve centres of the country and high income earners, developing its branch network and products to suit this market.
Reliance Bank provided on-line real time banking from take off and established 12 business offices during its time of operation. The Bank developed special strengths in international trade finance and foreign operational control. It also pioneered the innovative concept of drive-through banking; making it possible for banking transactions to be carried out while still in the comfort of your car – showing good foresight in the provision of banking services in Nigeria.
Bond Bank "The Bank of Uncommon Values"
Every family has a baby and in this respect Skye Bank is no exception. The last new bank to be licensed by the Central Bank of Nigeria, Bond Bank, opened its doors on November 1, 2002 with an authorized share capital of N2billion. In spite of having just 8 branches nationwide, Bond Bank made its presence felt upon the banking landscape in many ways – its service approach, the ambience created in its branches as well as the clientele it was able to attract both on the commercial and individual side of the business. Its culture of excellence in terms of its robust information technology platform, service culture and operational processing made an immediate impact.
Bond Bank decided to do things differently from the beginning, keeping its branches open from 7.45am to 6pm weekdays and introducing the concept of a floor manager into its banking halls allowing the Bank to build up an impressive reputation for service in just 20 months of operations.
|
