The Asset Management Corporation of Nigeria (AMCON) on Monday announced Sigma Golf Nigeria Limited and Riverbank Investment Resources Limited (the Sigma Golf-Riverbank consortium) as the new investors that have acquired the entire issued and fully paid up ordinary shares of Keystone Bank Limited, formerly BankPHB Plc.

This followed the receipt of the necessary regulatory approvals from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC).
AMCON in a statement on Monday explained that the completion of the transaction was subject to the fulfilment of the conditions precedent as stated in the Share Sale and Purchase Agreement (SPA) executed between AMCON and the Sigma Golf-Riverbank consortium.

FOR MORE: http://theicon.ng/2017/03/21/finally-amcon-sells-keystone-bank-n25bn/

who is keystone


why was it sold



who bought it?

That name 'KEYSTONE' should not be changed ooooooooo. So classic a name!!!!

Keystone bank

We need more information on this deal

This is not a surprise to us keystone bank customers cos even from the poor services they offer to us, low customers turn out in almost all their branches and poor facilities we don't have to be told that the bank is broke. I only go to keystone bank in days that I don't want to waste too much time queuing up in banks . It's only in keystone bank I witnessed both staffs and customers using hand fan for more than 3 months in fact that bank don't have a single air conditioner.

Bankers, COME IN!!

Jofet:
That name 'KEYSTONE' should not be changed ooooooooo. So classic a name!!!!

What is so classic about the name? The KEY or the STONE

zuby4real10:
It's only in keystone bank I witnessed both staffs and customers using hand fan for more than 3 months in fact that bank don't have a single air conditioner.

Wow what backwater are they running. I'd have to wonder what they are doing with money. If they aren't making money on fees, interest and loans.

as the new investors that have acquired the entire issued and fully paid up ordinary shares of Keystone Bank Limited, formerly BankPHB Plc.

So there is absolutely nothing left for the original owners of bankPHB to salvage? This is very sad and unfair. Lots of people invested their life savings in the shares of the old bankPHB, Amcon and CBN should have worked out a model for them not to lose everything.

In as much as it is good to protect the interest of depositors, protecting the interest of owners and investors should also be a priority. Personally, I will never invest in any bank again.

Okay o

They would not leave this bank alone...from BankPhb to Keystone to what again?

Hw I wish they could sell that Senate Building to British parliament.

mykelmeezy:
who is keystone


why was it sold



who bought it?

That's your assignment... submit today itself

To

DoyenExchange:
They would not leave this bank alone...from BankPhb to Keystone to what again?

To sigma bank

So dea is a bank ni 9ja name Keystroke bank ehn

mykelmeezy:
who is keystone


why was it sold



who bought it?

Do you have problem comprehending?

change of name loading ....
BankPHB or Keystone have never been a stable bank.

Was the bank in distress?

Government inteference in a serious business is a stupid thing

zuby4real10:
This is not a surprise to us keystone bank customers cos even from the poor services they offer to us, low customers turn out in almost all their branches and poor facilities we don't have to be told that the bank is broke. I only go to keystone bank in days that I don't want to waste too much time queuing up in banks . It's only in keystone bank I witnessed both staffs and customers using hand fan for more than 3 months in fact that bank don't have a single air conditioner.

pure lie

zuby4real10:
This is not a surprise to us keystone bank customers cos even from the poor services they offer to us, low customers turn out in almost all their branches and poor facilities we don't have to be told that the bank is broke. I only go to keystone bank in days that I don't want to waste too much time queuing up in banks . It's only in keystone bank I witnessed both staffs and customers using hand fan for more than 3 months in fact that bank don't have a single air conditioner.

U are a Huge LIAR..., U dont kw keystone bank.at all. For your information, who told u keystone doesn't hav Air conditioners, and are broke or empty??. keystone is a classy bank. Dey even pay both the Employee, his wife amd 3 kids monthly salaries. Along with other periodic goodies. Gets your fact straight before coming here to exppse ypur ignorance.

Was thinking about the fellow that jumped into the lagoon yesterday and just couldn't help but feel sad.... spent time wondering what could have moved the young man to such an action. Heard on radio this morning that he was just 35 years....
At 35 he was a doctor... had a car, and even a driver...from the Nigerian standard that sounds like a successful young man in all ramifications.
There probably were lots of his secondary school mates or his university mates envying him. But truth is no one knew what he was going through.....
I concluded that he was having a bout of depression and it took a bad turn. It brings me back to us. I will ask some pertinent questions that I am also guilty of.
1) When last did we check on a friend that we haven't heard from in a while?
2) When last did we visit some one we knew was finding things difficult?
3) When we see someone who had it going so well and all of a sudden is finding it hard to make ends meet, do we make fun of them?
4) When was the last time we called the names of particular people in our midst during our prayers, to intercede on their behalf ?
5) When last did we encourage another with the Word of God
The economy is tough and truly people are finding it more difficult to survive. We need to watch out for each other. We need to call, we need to visit. I am hoping we can bring some suggestions to make our welfare better.
We never know who needs just an ear to listen to all the problems he/she is going through. Let's be more caring..I am guilty of this too. I am going to try as well. To at least call someone per day just to say hello! Lets ponder on this for a few seconds and decide to assist each.

zuby4real10:
This is not a surprise to us keystone bank customers cos even from the poor services they offer to us, low customers turn out in almost all their branches and poor facilities we don't have to be told that the bank is broke. I only go to keystone bank in days that I don't want to waste too much time queuing up in banks . It's only in keystone bank I witnessed both staffs and customers using hand fan for more than 3 months in fact that bank don't have a single air conditioner.

nice

You are definitely a key stone customer.

That bank is completely useless.. They froze my account twice for not updating my as stipulated by cbn even after I have done that on 2 different occasions And the customer service suddenly turned from gOod to worst in the country. Its like the management went to sleep. I had to move all my money away from the bank.

Gtb is next.

seunmsg:


So there is absolutely nothing left for the original owners of bankPHB to salvage? This is very sad and unfair. Lots of people invested their life savings in the shares of the old bankPHB, Amcon and CBN should have worked out a model for them not to lose everything.

In as much as it is good to protect the interest of depositors, protecting the interest of owners and investors should also be a priority. Personally, I will never invest in any bank again.

well said bro, I had 500k, units of bankphb share that is useless and we have lost everything now, the sad part of this sale deal is most of the management of sold bank put their interest in the sales, for example, John Aboh the MD that sold oceanic bank to ETI is now th chairman of ecobank clearly that was the deal at the sale of Oceanic bank.

I did not just lose interest in banking stocks but the entire Nigerian stock market because I realize that is another ponzi scheme backed by law. I only invest in physical business eg, real estate and commodities now

I know it will surely come to pass

this bank still dy exist?

seunmsg:


So there is absolutely nothing left for the original owners of bankPHB to salvage? This is very sad and unfair. Lots of people invested their life savings in the shares of the old bankPHB, Amcon and CBN should have worked out a model for them not to lose everything.

In as much as it is good to protect the interest of depositors, protecting the interest of owners and investors should also be a priority. Personally, I will never invest in any bank again.

Seun, I recognize your point, however, everywhere in the world, the most important stakeholder to be protected at the time of a bank's distress are the depositors.

Investors are a very distant consideration because regular corporate governance practice expects that if owners/investors/shareholders were diligent with their oversight role on Management and the Board of Directors, the bank should not be in distress in the first place.

Tough luck, but the owners/shareholders of Keystone Bank had no choice!