Heritage Bank Limited has finally sealed its merger deal with Enterprise Bank Limited –a development which will increase the bank’s branch network (Experience Centres) from current 15 to about 200 branches, and thus position it among the top seven banks in Nigeria.
The Central Bank of Nigeria (CBN) has granted final approval for the deal. Also, the Federal High Court has sanctioned the scheme of merger and ordered the merger of both institutions.
“The Management of the Central Bank of Nigeria (CBN) has approved the grant of Final Merger Approval to Heritage Banking Company Limited and Enterprise Bank Limited and the license of Heritage Bank Limited (the successor),” the CBN said in a letter to Heritage Bank.
Heritage Bank had on October 15, 2014, made history with the successful completion of the acquisition of Enterprise Bank, after investing about N56 billion in the deal. Read more