Mainstreet Microfinance Bank is a large financial services provider in Nigeria. Mainstreet Bank Limited assumed the assets and liabilities of Afribank Plc., which had an epochal beginning as one of the big four banks in Nigeria, on 20 October 1959.
The bank has been an active player in the Nigerian interbank market and has leveraged the legacy bank's over 51 years of experience and goodwill in the financial services sector to become a distinguished commercial bank that contributes to national economic development.
Currently, the bank operates 217 branches nationwide, with at least one branch in every city of the 36 states in the Nigerian federation
Historyedit
Mainstreet Microfinance Bank was formed in August 2011 by taking over the assets and some of the liabilities of the now defunct Afribank Plc., whose commercial banking license was revoked. MBL was issued a commercial banking license on 5 August 2011.[2]
In 2014, Skye Bank won the bid to acquire the 100 per cent ownership stake of Asset Management Corporation of Nigeria (AMCON) in Mainstreet Bank Limited.[3]
Ownershipedit
As of January 2012[update], the assets of Mainstreet Bank Limited are 100% owned by Asset Management Company of Nigeria (AMCON), an arm of the Federal Government of Nigeria.
^"afribank.com - afribank Resources and Information. This website is for sale!". afribank.com. Retrieved 29 August 2017. {{cite web}}: Cite uses generic title (help)
^Chima, Obinna (11 June 2012). "Nigeria: Mainstreet Microfinance Bank Sets Strategic Agenda". This Day (Lagos). Retrieved 29 August 2017.
External linksedit
Website of Mainstreet Bank Limited
Website of Central Bank of Nigeria
Federal Government Appoints Leaders of Nationalised Banks
December 20, 2023
mainstreet, bank, limited, also, referred, mainstreet, bank, commercial, bank, nigeria, acquired, skye, bank, 2014, typeprivateindustryfinancial, servicespredecessorafribankfounded2011headquarterslagos, nigeriakey, peoplefaith, tuedor, matthewsmanaging, direct. Mainstreet Bank Limited MBL also referred to as Mainstreet Bank was a commercial bank in Nigeria It was acquired by Skye Bank Plc in 2014 1 Mainstreet Bank LimitedTypePrivateIndustryFinancial servicesPredecessorAfribankFounded2011HeadquartersLagos NigeriaKey peopleFaith Tuedor MatthewsManaging Director amp CEOProductsLoans Checking Savings Investments Debit Cards Credit CardsWebsitemainstreetbanklimited com Contents 1 Overview 2 History 3 Ownership 4 Subsidiaries 5 Branch network 6 Governance 7 See also 8 References 9 External linksOverview editMainstreet Microfinance Bank is a large financial services provider in Nigeria Mainstreet Bank Limited assumed the assets and liabilities of Afribank Plc which had an epochal beginning as one of the big four banks in Nigeria on 20 October 1959 The bank has been an active player in the Nigerian interbank market and has leveraged the legacy bank s over 51 years of experience and goodwill in the financial services sector to become a distinguished commercial bank that contributes to national economic development Currently the bank operates 217 branches nationwide with at least one branch in every city of the 36 states in the Nigerian federationHistory editMainstreet Microfinance Bank was formed in August 2011 by taking over the assets and some of the liabilities of the now defunct Afribank Plc whose commercial banking license was revoked MBL was issued a commercial banking license on 5 August 2011 2 In 2014 Skye Bank won the bid to acquire the 100 per cent ownership stake of Asset Management Corporation of Nigeria AMCON in Mainstreet Bank Limited 3 Ownership editAs of January 2012 update the assets of Mainstreet Bank Limited are 100 owned by Asset Management Company of Nigeria AMCON an arm of the Federal Government of Nigeria Subsidiaries editThe bank maintains the following subsidiaries 4 Mainstreet Bank Insurance Brokers Limited Founded in 1988 100 shareholding Mainstreet Bank Securities Brokers Limited Founded in 1994 100 shareholding Mainstreet Bank Microfinance Bank Limited Founded in 2009 100 shareholding Mainstreet Bank Trustees amp Asset Management Company Limited Founded in 1991 100 shareholding Mainstreet Bank Registrars Founded in 2004 100 shareholding Mainstreet Bank Capital Markets 100 shareholding Mainstreet Bank Estate Company Limited 100 shareholding Mainstreet Bank Bureau De Change Limited 100 shareholding ANP International Finance Limited Founded in 1987 100 shareholding Branch network editAs of June 2012 update Mainstreet Microfinance Bank maintains a network of over 13 branches in all regions of Lagos states of Nigeria 5 Governance editThe Managing Director and Chief Executive Officer of the bank is Adegoke Elijah Adegbami See also edit nbsp Banks portalList of banks in Nigeria Central Bank of Nigeria Economy of Nigeria AfribankReferences edit Skye Bank Plc History Chima Obinna 6 August 2011 Nigeria Afribank Spring Bank Bank PHB Nationalised This Day Lagos Retrieved 29 August 2017 Skye Bank Plc History afribank com afribank Resources and Information This website is for sale afribank com Retrieved 29 August 2017 a href Template Cite web html title Template Cite web cite web a Cite uses generic title help Chima Obinna 11 June 2012 Nigeria Mainstreet Microfinance Bank Sets Strategic Agenda This Day Lagos Retrieved 29 August 2017 External links editWebsite of Mainstreet Bank Limited Website of Central Bank of Nigeria Federal Government Appoints Leaders of Nationalised Banks Retrieved from https en wikipedia org w index php title Mainstreet Bank Limited amp oldid 1101700637, wikipedia, wiki, book, books, library,
