The Lagos State Government has praised Greenwich Bank Limited for launching its first three commercial banking branches in Lagos, marking a significant milestone in the state's financial sector. The branches, located in Surulere, Ikoyi, and Victoria Island, signify the bank's transition from a merchant bank to a commercial bank with regional authorization. This expansion is expected to enhance financial inclusion, wealth creation, and economic growth in the state.
Lagos State Governor, Babajide Sanwo-Olu, represented by Commissioner for Finance, Abayomi Oluyomi, commissioned the bank's Awolowo Road, Ikoyi branch, expressing optimism about Greenwich's role in supporting individuals and businesses. The Governor emphasized the importance of banks like Greenwich in expanding business opportunities and contributing to the state's economic growth. He noted that the bank's entrance into the state's financial ecosystem would have a positive impact on the business enterprise of the state.
Greenwich Bank plans to further expand its operations, with upcoming branches in Akure, Ondo State, and Ado-Ekiti, Ekiti State. The bank also intends to pursue a national banking license in the medium term, following regulatory approval granted in August 2026. This approval enables Greenwich to offer a broader range of services, including retail banking, small and medium-sized enterprises (SMEs), commercial organizations, and public-sector institutions.
Group Chairman of Greenwich Holdings Limited, Kayode Falowo, highlighted the bank's commitment to bringing institutional banking standards to everyday financial needs. He emphasized that Greenwich would establish additional branches within the regions approved by the Central Bank of Nigeria (CBN). Chairman of Greenwich Bank Limited, Segun Olekutuyi, described the branch openings as a significant milestone, marking the beginning of a new chapter for the institution.
The bank's strategy combines physical branches with digital banking to provide customers with accessible, convenient, and responsive financial services. Managing Director of Greenwich Bank, Benson Ogundeji, noted that the commercial banking license would enable the institution to build on its corporate and institutional banking heritage. Greenwich Holdings comprises various subsidiaries, including Greenwich Asset Management Limited, Greenwich Securities Limited, and Greenwich Registrars and Data Solution Limited.
Group Managing Director of Greenwich Holdings, Oyewale Ariyibi, emphasized the group's commitment to strengthening its capital base, expanding its retail financial services footprint, and accelerating digital transformation. Group Chairman of Nigerian Exchange Group (NGX Group), Alhaji Umaru Kwairanga, commended the bank's board for its vision, noting Greenwich's contribution to Nigeria's financial system over the decades.
The expansion of Greenwich Bank's operations is expected to have a positive impact on Nigeria's financial sector, enhancing financial inclusion and supporting economic growth. With its commitment to quality products and services, integrity, speed, and value for customers, Greenwich Bank is poised to play a significant role in the country's financial ecosystem.
Key points
- - The bank has opened its first three commercial branches in Lagos, located in Surulere, Ikoyi, and Victoria Island. - Greenwich Bank plans to expand its operations to Akure, Ondo State, and Ado-Ekiti, Ekiti State, and pursue a national banking license. - The bank's strategy combines physical branches with digital banking to provide customers with accessible, convenient, and responsive financial services.
