Greenwich announces that it has received regulatory approval to transition to a Commercial Bank with Regional Authorization, hence, erstwhile Greenwich Merchant Bank Limited has now become Greenwich Bank Limited, marking a significant milestone in its corporate evolution and unlocking expanded financial services for individuals, businesses, and institutions across some regions of Nigeria and Abuja.
This transition is a critical part of a deliberate transformation programme focused on strengthening governance, enhancing operational capacity, and building a future-ready financial institution positioned for inclusive growth. This license will enable Greenwich Bank to broaden its customer base beyond its focus on traditional large corporates to serve retail customers, SMEs, commercial and public sector organizations. The Bank will also expand its product suite, branch network, and digital banking capabilities to deliver more accessible and comprehensive financial services.
The Group Chairman, Greenwich Holdings Limited, Kayode Falowo, described the approval as a defining moment in the Group’s history. ‘This milestone reflects years of disciplined execution and a clear strategic vision. It marks the beginning of a broader mission to deepen financial access and build a stronger institution capable of supporting individuals, businesses, and communities across Nigeria,’ he said.
He added that the approval validates the Group’s sustained investment in governance, people, and technology, noting that ‘strong institutions are built through time, discipline, and responsibility. We are proud of our journey so far and focused on the opportunities ahead.’
Benson Ogundeji, managing director/chief executive officer of Greenwich Bank, said the transition significantly expands the Bank’s ability to serve customers. ‘This approval allows us to extend our services to a much wider spectrum of the economy, while preserving the relationship-driven approach that defines us,’ he said. He added: ‘Our existing customers will experience continuity with greater value, broader product offerings, improved convenience, and enhanced access across channels.’
He reaffirmed Greenwich’s commitment to responsible growth, stating that ‘our focus remains on creating value through financial solutions that help customers grow, preserve, and transfer wealth while contributing to Nigeria’s economic development.’
Greenwich is committed to ensuring well curated/tailored services that deliver improved value and accessibility. As a Commercial Bank, Greenwich Bank is positioned to deepen its contribution to Nigeria’s economic development by supporting entrepreneurship, expanding
access to finance, and enabling business growth across key sectors.
Greenwich Bank Limited is the banking subsidiary of Greenwich Holdings Limited. Other entities within the group are Greenwich Capital Markets Limited, Greenwich Securities Limited, and Greenwich Asset Management Limited.