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Skye Bank Takes Over Mainstreet Bank - Business - Nairaland

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Skye Bank Takes Over Mainstreet Bank by bugs1: 1:33pm On Dec 22, 2014
The Asset Management Corporation of Nigeria (AMCON) at the weekend transferr ownership of Mainstreet Bank to Skye Bank Plc.

The transfer took place after a completion meeting where AMCON divested its interest and transferred ownership of the bridge bank to Skye Bank, which paid 100 per cent of the acquisition value.

At a short handover held at AMCON headquarters in Lagos, at which the directors of Mainstreet Bank and Skye Bank were present, AMCON handed over ownership and praised Skye Bank for emerging the preferred of the over 29 bidders “in the highly competitive and transparent process that took over a year to complete”.

Skye Bank was lauded “for its tenacity and doggedness in pursuing the acquisition with all sense of seriousness and professionalism”.

AMCON also praised the out-going Board and Executive Committee members of Mainstreet Bank for “their dedication and service to Nigeria in steering and piloting the affairs from what it used to be, to profitability”.

Between October 3 and October 31, Skye Bank paid both the initial 20 per cent mandatory deposit and completed the 80 per cent balance well ahead of the November 3 deadline for the 100 per cent acquisition of Mainstreet Bank, which has been described by several analysts and financial commentators as a ground-breaking acquisition.
http://www.thisdaylive.com/articles/skye-bank-takes-control-of-mainstreet-bank/197399/

http://monitor9ja.com/2014/12/skye-bank-takes-mainstreet/

3 Likes 1 Share

Re: Skye Bank Takes Over Mainstreet Bank by IKJ66(m): 1:35pm On Dec 22, 2014
Ok,that's good but how does that add to my bank account

1 Like 1 Share

Re: Skye Bank Takes Over Mainstreet Bank by ToyozzieTohBad(f): 1:51pm On Dec 22, 2014
ok
Re: Skye Bank Takes Over Mainstreet Bank by thiefnubu(m): 1:51pm On Dec 22, 2014
THIS IS DEFINITELY BAD NEWS!

There will definitely be a downsizing.

Many will lose their jobs.....only a minute few will gain from this take-over



MAY OUR LEGITIMATE SOURCES OF LIVELIHOOD NEVER BE TAKEN AWAY FROM US

34 Likes 1 Share

Re: Skye Bank Takes Over Mainstreet Bank by Sharon6(f): 1:51pm On Dec 22, 2014
Hakuna Matata!!!





CHECK MY SIGNATURE!!! GIVE UR SKIN A TREAT!!!
Re: Skye Bank Takes Over Mainstreet Bank by blemon44(m): 1:52pm On Dec 22, 2014
hardwork pays
Re: Skye Bank Takes Over Mainstreet Bank by Maczeelly(m): 1:52pm On Dec 22, 2014
cheesy cheesy cheesy
Re: Skye Bank Takes Over Mainstreet Bank by Brightology2(m): 1:52pm On Dec 22, 2014
K
Re: Skye Bank Takes Over Mainstreet Bank by kennosklint(m): 1:52pm On Dec 22, 2014
Ok sir
Re: Skye Bank Takes Over Mainstreet Bank by Tenim47(m): 1:52pm On Dec 22, 2014
my own na to save money,nd witdraw. Lobatan

1 Like

Re: Skye Bank Takes Over Mainstreet Bank by Ambrogio(m): 1:53pm On Dec 22, 2014
.
Re: Skye Bank Takes Over Mainstreet Bank by siraj1402(m): 1:53pm On Dec 22, 2014
what did you expect or you think there donation to Jonathan 2015 will not be compensated?

1 Like

Re: Skye Bank Takes Over Mainstreet Bank by Simitrendy: 1:53pm On Dec 22, 2014
Mainstreet Nko Mainpedestrain Ni mtcheeew liquidated bank
Re: Skye Bank Takes Over Mainstreet Bank by holatin(m): 1:53pm On Dec 22, 2014
wetin different from Skye and main street ?
Re: Skye Bank Takes Over Mainstreet Bank by bonechamberlain(m): 1:53pm On Dec 22, 2014
I pray we don't experience another failed bank in this incredible country
Re: Skye Bank Takes Over Mainstreet Bank by Nobody: 1:53pm On Dec 22, 2014
Banks are still folding up.
Re: Skye Bank Takes Over Mainstreet Bank by olayincar(m): 1:54pm On Dec 22, 2014
Oh k..
I just believe nothing can ever happen to ma bank


FirstBank grin

3 Likes

Re: Skye Bank Takes Over Mainstreet Bank by jaybee3(m): 1:54pm On Dec 22, 2014
Any connection between this deal and Tunde Ayeni's donation to GEJ's re-election campaign fund

4 Likes

Re: Skye Bank Takes Over Mainstreet Bank by Nobody: 1:54pm On Dec 22, 2014
Skye bank will become bigger since it has acquired mainstreet since it has not really been a big bank
Re: Skye Bank Takes Over Mainstreet Bank by addempsea(m): 1:55pm On Dec 22, 2014
Thank God, they will be able to buy generator now!

1 Like

Re: Skye Bank Takes Over Mainstreet Bank by klem93(m): 1:55pm On Dec 22, 2014
they deserves it mehn
Re: Skye Bank Takes Over Mainstreet Bank by Kekekenny(m): 1:56pm On Dec 22, 2014
YAWNING...........

1 Like

Re: Skye Bank Takes Over Mainstreet Bank by philips70(m): 1:56pm On Dec 22, 2014
Tunde Ayeni's donation working. GEJ till Nigerians start eating from the dustbin and be wise.

7 Likes

Re: Skye Bank Takes Over Mainstreet Bank by veraiyke(m): 1:57pm On Dec 22, 2014
K
Re: Skye Bank Takes Over Mainstreet Bank by Nobody: 1:57pm On Dec 22, 2014
Finally! Skye bank just became bigger
Re: Skye Bank Takes Over Mainstreet Bank by Olukokosir(m): 1:57pm On Dec 22, 2014
MANUFACTURING TRADING PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED DECEMBER 2014

AYESA OLUWATOSIN OLUWOLE INCOME AND EXPENDITURE ACCOUNT.

Opening stock - 160000
Purchases - 500000
-----------
21000000
Return inward - 500000 ------------
Closing stock - 10000000
-----------
20000000
-
Sales - 500000000
Rent - 4000000000
Drinks - 10000000
Parties - 6000000
Offering - 4000000
Tithe - 1000000
Aims - 6000000
Balance brought f/WD - 200000000
Gross profit - 400000000
Net profit ------- 50000000
Total - 1,9540000000000

1 Like

Re: Skye Bank Takes Over Mainstreet Bank by dridowu: 1:57pm On Dec 22, 2014
Thanks to PHCN , they restore power supply after 2weeks
Re: Skye Bank Takes Over Mainstreet Bank by fisaylab: 1:58pm On Dec 22, 2014
This is the outcome of pdp donation.shame shame shame.
Re: Skye Bank Takes Over Mainstreet Bank by ndidibabe(f): 1:59pm On Dec 22, 2014
jaybee3:
Any connection between this deal and Tunde Ayeni's donation to GEJ's re-election campaign fund
Una go just dey yarn rubbish. Do you think this is like trading a bowl of Oha soup with a bowl of Egusi soup? Selling a bank is a serious business.

6 Likes

Re: Skye Bank Takes Over Mainstreet Bank by Omotty(m): 1:59pm On Dec 22, 2014
Than what happen to my Mainstreet account?ll i be controlling two SaVings account with SKye bank? OMG.
Re: Skye Bank Takes Over Mainstreet Bank by jaybee3(m): 2:01pm On Dec 22, 2014
ndidibabe:
Una go just dey yarn rubbish. Do you think is about trading a bowl of Oha soup with a bowl of Egusi soup? We are talking serious business here.
I guess your brain ain't porous enough to understand the dynamics of lobbying cheesy cheesy cheesy

2 Likes

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