nigeria redirects here . for heritage bank australia see heritage bank . heritage bank plc type public company by shares industry financial services founded 1989 headquarters 292b ajose adeogun street victoria island lagos nigeria area served nigeria key people akinsola akinfemiwa chairman ifie sekibo managing director & ceo products banking and financial services total assets us 1.7 billion ngn 483.4 billion dec 2015 website homepage heritage banking company limited hbcl now known as heritage bank plc. but often referred to as heritage bank is a commercial bank in nigeria . it is one of the commercial banks licensed by the central bank of nigeria the country s banking regulator 1 with a national operating license . contents 1 overview 2 history 3 organizational structure 4 ownership 5 branch network 6 governance 7 recent developments 8 see also 9 references 10 external links overview edit in 2012 the core investor iei plc through iei investments limited acquired the societe generale bank of nigeria sgbn license from the central bank of nigeria cbn . having fulfilled all required criteria the bank returned 100 % of existing sgbn account holders money to their owners . heritage bank plc is a large financial services provider in nigeria . currently licensed as a national bank it offers banking and financial services in the country including the south west southeast and the north . 2 as of december 2015 update the total asset valuation of the bank was estimated at about us 1.7 billion ngn 483.4 billion . its shareholders equity is worth at least us 88 million ngn 25 billion the minimum capital requirement by the central bank of nigeria cbn for national banks . history edit the bank traces its roots to the late 1980s when it was founded as societe generale bank nigeria sgbn by the late dr. olusola saraki . 3 in january 2006 the central bank closed down sgbn on account of failure to meet new minimum capital requirements of us 155 million ngn 25 billion for a national bank . sgbn successfully challenged the closure in court . in december 2012 cbn re issued sgbn s banking license but as a regional bank . 4 the bank re branded as heritage banking company limited and reopened for business under the new name on 4 march 2013 . 5 in october 2014 heritage banking company ltd successfully met the requirements of the asset management corporation of nigeria amcon and the central bank of nigeria cbn toward owning 100 % shares in enterprise bank ltd. on 27 january 2015 amcon officially transferred ownership of enterprise bank ltd to heritage bank and today we have been fully integrated to become a single bigger and better financial institution heritage bank limited . organizational structure edit the bank s business model is organized into four functional groups ivory banking group offers personal banking wealth management e banking cowry banking group targeted towards individuals schools religious organizations professional associations corporate firms and smes seeking financial management advice . manilla banking group offers corporate and commercial services including export import services and facilitation of international corporate finance . coral banking group offers public sector financial services including a checking account services b revenue collection services c funds management and d project financing . ownership edit as of september 2013 update the bank s stock is publicly owned by the following corporate entities and individuals 6 heritage banking company limited stock ownership rank name of owner percentage ownership 1 heritage investment services limited hisl 80.0 2 priority share holders 9.0 3 other minority shareholders 11.0 total 100.00 branch network edit as of september 2013 update the bank maintained a network of branches at the following locations 7 main branch 292b ajose adeogun street victoria island lagos abuja branch 24 algiers street wuse zone 5 abuja port harcourt branch 135 olu obasanjo way port harcourt marina branch wesley house 21 22 marina lagos apapa branch 36 warehouse road apapa lagos ibadan branch 7 adekunle fajuyi road dugbe ibadan 8 adeniyi jones branch 34 36 adeniyi jones street ikeja lagos national assembly branch suite 2.39 a new wing house of representatives national assembly complex abuja ashabi cole branch 7 ashabi cole street alausa central business district ikeja lagos awolowo road branch 65 awolowo road ikoyi lagos adetokunbo ademola iv branch 64 adetokunbo ademola street victoria island lagos governance edit akinsola akinfemiwa a non executive director serves as the chairman of the nine person board of directors . the managing director and chief executive officer is ifie sekibo . 9 recent developments edit in october 2014 heritage bank acquired 100 % shareholding in enterprise bank limited a nationalized financial services provider with over 160 branches and us 1.6 billion in assets . heritage paid amcon us 340 million ngn 56.1 billion in cash for the acquisition . 10 heritage investment services limited hisl the investment arm of heritage banking company limited hbcl was the winning bidder out of 24 nigerian and international companies who competed for the acquisition of enterprise bank . 11 see also edit economy of nigeria list of banks in africa list of banks in nigeria references edit cbn . list of licensed commercial banks in nigeria . central bank of nigeria cbn . retrieved 4 november 2014 . egwuatu peter 30 january 2013 . heritage bank begins operation january 29 gets cbn licence . vanguard nigeria . retrieved 4 november 2014 . okeke kanyi 29 january 2013 . societe generale bank of nigeria sgbn returns as heritage bank january 29th 2013 . kanyiokeke.com . retrieved 4 november 2014 . udo ata 16 november 2012 . saraki s bank sgbn to return as heritage bank . premium times abuja . retrieved 4 november 2014 . chima obinna 4 march 2013 . heritage bank resumes operations today . thisday lagos . retrieved 4 november 2014 . chima obinna 4 march 2013 . shareholding in heritage bank nigeria limited . thisday lagos . retrieved 4 november 2014 . hbcnl . branches of heritage banking company nigeria limited . heritage banking company nigeria limited hbcnl . retrieved 4 november 2014 . alawiye ademola 10 april 2013 . heritage bank opens first set of branches . the punch nigeria . retrieved 4 november 2014 . hbcnl . the board of directors at heritage banking company limited . heritage banking company nigeria limited hbcnl . retrieved 4 november 2014 . onu emele 16 october 2014 . nigeria s heritage is acquiring enterprise bank for 340 million . bloomberg news . retrieved 4 november 2014 . onyedimmakachukwu . 23 september 2014 . heritage bank plans stock listing to fund enterprise purchase . ventures africa magazine lagos . retrieved 5 november 2014 . external links edit official website heritage bank leads chase for enterprise bank retrieved from https en.wikipedia.org w index.php title heritage banking company limited & oldid 732036092 categories banks of nigeriacompanies of nigeriabanks established in 1989companies established in 1989nigerian brands1989 establishments in nigeriacompanies based in lagosvictoria island lagoshidden categories pages using infobox company with unsupported parametersarticles containing potentially dated statements from december 2015all articles containing potentially dated statementsarticles containing potentially dated statements from september 2013 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 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