bank . for the historic plantation house in lunenburg county virginia see spring bank lunenburg courthouse virginia . for spring bank farm see spring bank farm . spring bank plc. former type public nse springbank industry financial services fate insolvency successor enterprise bank limited founded 2004 defunct 2011 headquarters 143 ahmadu bello way victoria island lagos nigeria key people bernadina sola ayodele chairman suzanne iroche group managing director & ceo products loans checking savings investments debit cards credit cards slogan go further website homepage spring bank plc. also referred to as spring bank is a commercial bank in nigeria . it is one of the twenty six 26 commercial banks licensed by the central bank of nigeria the country s banking regulator . 1 contents 1 overview 2 history 3 failure and liquidation 4 governance 5 external links 6 see also 7 references overview edit spring bank is a large financial services provider in nigeria . as of june 2010 update the bank s total assets were estimated at about us 1.31 billion ngn 201.3 billion . 2 the stock of spring bank is listed on the nigerian stock exchange where it trades under the symbol springbank . 3 history edit spring bank was formed in december 2005 by the merger of six 6 nigerian financial institutions namely acb international bank plc. citizens international bank plc. fountain trust bank plc. guardian express bank plc. omega bank plc. trans international bank plc. at the time it was formed spring bank had a capital base of approximately us 224 million ngn 34.5 billion with total assets estimated at approximately us 988 million ngn 152 billion . 4 failure and liquidation edit in 2009 following an industry wide audit of all commercial banks in the country the central bank of nigeria cbn the banking regulator in the country found nine commercial banks under capitalized and badly managed . spring bank was one of the troubled banks . the cbn intervened by injecting new capital to maintain solvency and appointing new management . on 5 august 2011 the cbn revoked the banking license of spring bank . enterprise bank was formed in august 2011 by taking over the assets and some of the liabilities of the now defunct spring bank whose commercial banking license was revoked . ebl was issued a commercial banking license on 5 august 2011 . as of january 2012 the assets of enterprise bank limited are 100 % owned by asset management company of nigeria amcon an arm of the federal government of nigeria . in july 2012 the federal high court of nigeria in lagos ordered that the affairs of the defunct spring bank plc be wound up since its license had been revoked . 5 governance edit following the intervention of the central bank of nigeria in 2009 bernadina sola ayodele was appointed group managing director and chief executive officer . 6 external links edit website of spring bank plc. website of central bank of nigeria see also edit list of banks in nigeria central bank of nigeria economy of nigeria references edit list of licensed commercial banks in nigeria estimated total assets in june 2010 company profile at google finance history of spring bank plc. court winds up afribank key people at spring bank plc. retrieved from https en.wikipedia.org w index.php title spring bank & oldid 715432409 categories defunct banks of nigeriadefunct companies based in lagosbanks established in 20052005 establishments in nigeriabanks disestablished in 20112011 disestablishments in nigeriahidden categories articles containing potentially dated statements from june 2010all articles containing potentially dated statements navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 15 april 2016 at 19 16 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you agree to the terms of use and privacy policy . wikipedia is a registered trademark of the wikimedia foundation inc. a non profit organization . privacy policy about wikipedia disclaimers contact wikipedia developers cookie statement mobile view