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By January 2021, Parallex Microfinance Bank was granted a Commercial Banking Regional operating license to operate as Parallex Bank Limited. [3] As at the time of Parallex Bank's transitioning, it left behind 875 Microfinance Banks in Nigeria, out of which 9 have national licenses, 98 operate at state level, and 768 operate as Unit Microfinance ...
Premium Trust Bank is a Nigerian commercial bank that is licensed by the Central Bank of Nigeria, the national banking regulator. [1] The bank offers personal, corporate, private and SME Banking. [2] As of February 2023, the bank has 8 branches in Nigeria. [3] Premium Trust Bank was founded by Emmanuel Emefienim. [4] [5]
VBank (V by VFD or V) is a virtual bank and platform powered by VFD Microfinance Bank and was launched on March 25, 2020. It was created to offer free online banking. [2] [9] [10] [11] Currently, VBank has onboarded more than 500,000 active individuals and businesses on its mobile banking platform across Nigeria.
In 2013, the bank acquired a 70 percent shareholding in the Fina Bank Group for a cash payment of US$100 million. [18] Fina Bank branches and subsidiaries were rebranded GT Bank soon afterwards. In 2013, the Bank issued a US$400,000,000 Euro bond at a coupon rate of 6%; the least obtained by a Nigerian company in the international capital market.
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It is located in both Abuja and Lagos and is majority-owned by the government of Nigeria. [1] In addition to printing the banknotes and the postal orders of Nigeria, it has struck some of the coins of Nigeria. It also prints stamps. The Central Bank of Nigeria (CBN) is the sole issuer of legal tender money throughout the Federation. It controls ...
Unity Bank also maintains an operations base in Abuja, Nigeria's capital. [3] As of December 2012 [update] , the bank's total assets were valued at about US$2.45 billion (NGN:396 billion), with shareholders' equity of approximately US$322 million (NGN:51.5 billion).
Mainstreet Microfinance Bank is a large financial services provider in Nigeria.Mainstreet Bank Limited assumed the assets and liabilities of Afribank Plc., which had an epochal beginning as one of the big four banks in Nigeria, on 20 October 1959.