Did you know that Heritage bank traces its roots to the late 1980s, when it was founded as Societe Generale Bank (Nigeria) (SGBN), by the late Dr. Olusola Saraki.
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.
The bank re-branded as Heritage Banking Company Limited and reopened for business under the new name on 4 March 2013.
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.
Well….now you know. Stay tuned for more intresting facts from Heritage Bank.
