Greenwich Merchant Bank begins operations in Nigeria

Greenwich Merchant Bank Limited has commenced operations after receiving a licence by the Central Bank of Nigeria.

The bank has now set its sight on the provision of financial services for local and international clients.

Speaking at the launch of the bank in Lagos, its Managing Director, Dele Babade, expressed delight at the next phase of growth.

He said, “The key focus is building a local bank that meets international standards which we intend to scale up over the next few years.

“We may be small now, but the intention is that we will push beyond our weight. So, there is in place a five-year strategy which we will continue to reshape and fine-tune as we proceed.”

Babade added, “First, we need to generate profit to give returns to the people who staked their risk capital on this venture.

“Profit also ensures that we have a sustainable bank which will benefit all stakeholders including staff, depositors, and the community at large.

“Position which is to be the best at what we are and what we will be doing and thirdly building the platform that will scale up and building new businesses.”

Commenting, the bank’s Chairman, Kayode Falowo, outlined the journey of the bank from inception, saying, “The Greenwich journey started when we commenced business in June 1994 on the 7th floor of Great Nigeria House, Martins Street, Lagos.”

The bank which recently received the nod of the CBN to begin operations as a merchant bank is a subsidiary of the Greenwich Trust Group with operations in asset management, securities, nominees, registrar and data solution, trustees and property management.

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