Keystone Bank Limited (“Keystone” or the “Bank”) was granted a commercial banking license in 2011 by the Central Bank of Nigeria (CBN) as a successor bank to the erstwhile Bank PHB.
Keystone Bank Limited currently has 154 branches, in addition to two (2) international subsidiaries and one (1) local insurance company inherited from the predecessor bank. The subsidiaries include: Global Bank Liberia; Keystone Bank, Sierra Leone; and KBL Insurance.
Following the successful completion of AMCON’s divestment from the Bank, a 5-man Transitional Board was set up to oversee the repositioning of the Bank for growth and competitiveness. The transitional arrangement was successfully concluded on August 15, 2017 with the assumption of office of the substantive MD/CEO.
The appointment of a substantive board and executive members marks a major milestone in a seamless transition process, and is a pointer to the focused and professional approach to governance that Keystone Bank Limited is now known for.
After the sale of the bank by AMCON, the bank is now governed by a substantive Board of Directors. The Chairman of the Board of Keystone Bank Limited is Alhaji Umaru H. Modibbo. The Ag. Managing Director and Chief Executive Officer of the bank is Abubakar Danlami Sule who was appointed in March 2019 shortly after the exit of the previous MD/CEO, Mr. Obeahon Ohiwerei. In August 2019, Keystone Bank appointed three new directors namely; Messrs Tijani Aliyu, Olaniran Olayinka and Lawal Jibrin Ahmed.
Keystone Bank offers banking services to large corporations, public institutions, small to medium enterprises (SMEs) and individuals. The bank is a large financial services provider in Nigeria. As of December 2012, the bank’s total assets were valued at US$1.916 billion (NGN:307.5 billion), with shareholders’ equity valued at about US$213.3 million (NGN:34.23 billion).