The Central Bank of Nigeria (CBN) has approved the request of Greenwich Merchant Bank Limited to operate its financial holding company, Greenwich Holdings Limited.
This was conveyed in a statement issued by the bank on Tuesday, with the bank stating the regulatory approval marked a significant step enabling Greenwich Group consolidate on its existing financial service businesses, expand into new markets, and strengthen its position as a leading player in the financial sector.
Upon the commencement of operations, Greenwich Holdings Limited is expected to oversee Greenwich Merchant Bank Limited, Greenwich Asset Management Limited, and Greenwich Securities Limited while driving the expansion of the Group.
Reacting to the development, the bank’s Head of Corporate Communications, Greenwich Merchant Bank Limited, Ozena Utulu, said the regulatory approval is an attestation of the dedication, hard work, and commitment to excellence that have defined Greenwich’s legacy as a trusted partner in the financial industry.
“Greenwich Holdings Limited represents a new chapter in the unparalleled growth which began with Greenwich Trust Limited, a foremost provider of financial solutions that commenced operations in June 1994 as a financial adviser and issuing house. The SEC-regulated firm later applied to the Central Bank of Nigeria for the conversion of its operations, which led to the establishment of Greenwich Merchant Bank Limited in 2020.
“Over the course of 30 years, Greenwich has expanded its footprint across various segments of the financial sector through its subsidiaries and affiliated entities, including Greenwich Registrars and Data Solution Limited and Greenwich Trustees Limited,” He said in his statement.
With the regulatory approval, the bank is expected to be better positioned to expand into new markets in the financial sector.
