Heritage Bank Takes A Giant Leap Foward, completes N56 billion Payment To Acquire Enterprise Bank

Mr Ifie Sekibo‘s led Heritage bank has taken a giant leap forward in completing the N56 Billion naira payment required to buy as well as take over Enterprise bank. This of course is great news for people doing business with Heritage bank, because what this also means among others is that, Heritage bank now has lots of branches spread across the country. Customers always like to bank with banks that has enough branches spread across the country.

With the acquisition of Enterprise Bank, Heritage Bank has emerged has a major player in the banking industry. Enterprise Bank commenced operation in August, 2011, as a full-service commercial bank with a national banking license. The Bank operates via a sizeable distribution network of over 160 branches spread across major markets and commercial centres in Nigeria, and with over 177 ATMs, 57 Cash Centres and 2,000 POS terminals.

Heritage Bank emerged as the preferred bidder for Enterprise Bank through HBCL Investment Services, a special purpose company established for the transaction.

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“This process started with interest shown by 24 parties cutting across local and international bidders. This is great news, not just for Heritage bank, but also for the banking industry, because this helps to increase the number of big and reliable banks in the country, which is also good for the economy.