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Nairaland Forum / Nairaland / General / Business / AMCON To Sell Polaris Bank In Two Years (12321 Views)
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AMCON To Sell Polaris Bank In Two Years by themomentng: 11:19pm On Oct 11, 2018 |
The Asset Management Corporation of Nigeria (AMCON) says it plans to sell Polaris Bank within two years. Ahmed Kuru, chief executive officer, AMCON, said this in an interview with Bloomberg in Lagos. The Central Bank of Nigeria (CBN) had revoked the operating licence of Skye Bank in September for failing to meet capital and liquidity requirements. Polaris Bank was subsequently approved as a bridge bank to take on the assets and liabilities of Skye Bank. He said the agency has met with the management of Polaris Bank and will sell the financial institution in less than two years. Kuru added that the authorities intervened in the Skye Bank issue because of “a lot of systemic issues”, including saving more than 5,000 jobs and almost N1 trillion in deposits. He said AMCON will advertise for financial advisers for the sale of Polaris Bank after an investigation into the cause of its capital and liquidity challenges. “The divestment must be quick. It’s a very big bank and if you allow anything to happen to it, it will affect some other financial institutions,” Kuru said. “Because we have put a lot of money there, where we find out that something wrong has been done, I can assure you that people will be held responsible.” Kuru said AMCON, established in 2010 to buy bad debts, had set a 2023 deadline to dissolve its operations, even as it is still struggling to recover non-performing loans. https://www.google.com/amp/s/www.thecable.ng/amcon-to-sell-polaris-bank-in-two-years-dissolve-operations-by-2013/amp
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Re: AMCON To Sell Polaris Bank In Two Years by Optmus(m): 7:21am On Oct 12, 2018 |
Everything is failing because of Buhari. 7 Likes 1 Share
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Re: AMCON To Sell Polaris Bank In Two Years by maxiuc(m): 7:21am On Oct 12, 2018 |
E don happen I don kuku open account with gtb bank I only use my Skye bank account to receive cash then transfer instantly to my gtb account Wonder bank in the making 6 Likes 4 Shares |
Re: AMCON To Sell Polaris Bank In Two Years by olufalaye: 7:22am On Oct 12, 2018 |
What will happen to the stock holders of the bank? |
Re: AMCON To Sell Polaris Bank In Two Years by Oluwaseydex(m): 7:23am On Oct 12, 2018 |
Ftc |
Re: AMCON To Sell Polaris Bank In Two Years by AnneMomoh: 7:23am On Oct 12, 2018 |
Nice one |
Re: AMCON To Sell Polaris Bank In Two Years by AndLeo(m): 7:23am On Oct 12, 2018 |
I will buy the bank 1 Like |
Re: AMCON To Sell Polaris Bank In Two Years by danie09(m): 7:23am On Oct 12, 2018 |
Re: AMCON To Sell Polaris Bank In Two Years by wilcox(m): 7:24am On Oct 12, 2018 |
Make them no play with people hard end money o |
Re: AMCON To Sell Polaris Bank In Two Years by katchagboro(m): 7:24am On Oct 12, 2018 |
This is one bad thing about Nigerian economy 1 Like |
Re: AMCON To Sell Polaris Bank In Two Years by stevesharon: 7:24am On Oct 12, 2018 |
After changing name now its to be sold in 2yrs Time... D bank will eventually fall cos customers will be afraid to bank their hard earn money there... 5 Likes |
Re: AMCON To Sell Polaris Bank In Two Years by darocha1: 7:24am On Oct 12, 2018 |
Doesn't sound good 1 Like |
Re: AMCON To Sell Polaris Bank In Two Years by wilcox(m): 7:25am On Oct 12, 2018 |
Oluwaseydex:with your 2g network? When guys are using 10G already 3 Likes |
Re: AMCON To Sell Polaris Bank In Two Years by valentineuwakwe(m): 7:27am On Oct 12, 2018 |
well n.a. dem Sabi, wetin me know be say before that two years I will withdraw all my funds in that bank 1 Like |
Re: AMCON To Sell Polaris Bank In Two Years by Nobody: 7:28am On Oct 12, 2018 |
ah, that bank can't be trusted again o. 2 Likes |
Re: AMCON To Sell Polaris Bank In Two Years by WorldRichest: 7:29am On Oct 12, 2018 |
Mr Ayeni was the Chairman of Skye Bank. He looted the bank. He gave Goatluck 3 billion as donation to the 2015 election. Goatluck lost election and Ayeni lost errection. PDP and looting are 5 and 6. 13 Likes 1 Share |
Re: AMCON To Sell Polaris Bank In Two Years by itiswellandwell: 7:29am On Oct 12, 2018 |
Hmmm |
Re: AMCON To Sell Polaris Bank In Two Years by Firefire(m): 7:30am On Oct 12, 2018 |
Buhary is a FRAUD 2 Likes |
Re: AMCON To Sell Polaris Bank In Two Years by abumeinben(m): 7:30am On Oct 12, 2018 |
Wow...bank in life support, is that one bank? And people would be insulting ancient of days: Union Bank, and others like Unity, Wema. Selling Polaris ahn? I see First bank, UBA, Standard Chartered.. 1 Like |
Re: AMCON To Sell Polaris Bank In Two Years by Realname: 7:36am On Oct 12, 2018 |
olufalaye: Stocks will become worthless unfortunately 1 Like |
Re: AMCON To Sell Polaris Bank In Two Years by duduade: 7:36am On Oct 12, 2018 |
And Skye Bank is dead finally 1 Like |
Re: AMCON To Sell Polaris Bank In Two Years by Melison(m): 7:37am On Oct 12, 2018 |
That bank has been having probz for way too long now 1 Like |
Re: AMCON To Sell Polaris Bank In Two Years by Nobody: 7:38am On Oct 12, 2018 |
Amcon is nothing bt a sham. Those who ruined the bank shud not be free men. Mr ayeni and toke makinwas sugar daddy. 3 Likes |
Re: AMCON To Sell Polaris Bank In Two Years by jej3013(m): 7:39am On Oct 12, 2018 |
Re: AMCON To Sell Polaris Bank In Two Years by israelmao(m): 7:41am On Oct 12, 2018 |
Customers will soon begin to troop out in great trepidation. 1 Like |
Re: AMCON To Sell Polaris Bank In Two Years by timawoku(m): 7:42am On Oct 12, 2018 |
AndLeo:you are thinking like me |
Re: AMCON To Sell Polaris Bank In Two Years by abbaapple: 7:49am On Oct 12, 2018 |
Hhhahahaha I swear e don be for Skye bank!!! Sterling bank go follow next! Spits |
Re: AMCON To Sell Polaris Bank In Two Years by Patrinus: 7:49am On Oct 12, 2018 |
Very few banks are stable in this country. Even the Stanbic and First bank that I bank with, I always watch them from my third eye! 3 Likes |
Re: AMCON To Sell Polaris Bank In Two Years by kamez(m): 7:55am On Oct 12, 2018 |
if u still have an account with sky bank.................. then ur name na sorry 1 Like |
Re: AMCON To Sell Polaris Bank In Two Years by dadalicious: 7:59am On Oct 12, 2018 |
Its appalling how Buhari's Economist are killing this economy. Who will now bank with this bank after this. One of these big banks should just absolve them |
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