, a provider of high-end financial services in Nigeria, has secured Approval-in-Principle from the Central Bank of Nigeria to transition into a holding company structure.
According to him, the strategic move will enable Greenwich Group to streamline operations, enhance efficiency, and unlock new growth opportunities. “We are committed to leveraging this structure to deliver superior financial products and services to our esteemed clientele,” he stated. He also noted the importance of meeting the CBN’s recently announced minimum capital requirement for banks. “Addressing this proactively through our Right Issue, which started prior to the Apex bank’s announcement, is a crucial step towards ensuring long-term financial stability and opening up future growth prospects,” he said. He further revealed that the bank has completed the Right Issue, which is currently awaiting CBN approval.
The bank added that the transition of Greenwich Merchant Bank to a holding company will not only represent a significant milestone for the institution, it will also hold broader implications for Nigeria’s economic development.
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