Heritage Bank Nigeria

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Overview

Heritage Bank Nigeria is Nigerian commercial bank + CBN Central Bank of Nigeria seizure + liquidation Jun 3 2024 post-financial distress + operations suspended + legacy commercial bank ^{1, Nigeria report}.

History

2012 — Heritage Bank founded via Society General Bank of Nigeria SGBN acquisition by IEI Investments Limited.

Sep 3 2014 — Heritage Bank acquires Enterprise Bank Limited.

Jun 3 2024 — CBN Central Bank of Nigeria seizes + liquidates Heritage Bank post-financial distress + NDIC Nigeria Deposit Insurance Corporation deposit insurance payout to Heritage Bank Nigerian depositors distinctive Nigerian banking liquidation.

Ownership & operator

Operating entity: Heritage Bank Plc (Nigerian commercial bank; liquidation underway).

Major shareholders: IEI Investments Limited + Nigerian retail + institutional investors (Jun 3 2024 CBN liquidation).

Regulators: CBN Central Bank of Nigeria + NDIC Nigeria Deposit Insurance Corporation.

Technical integration

Heritage Bank Nigerian mobile banking app (operations suspended post-Jun 3 2024 CBN seizure + liquidation) + hbng.com online (legacy); NG IBAN + NIBSS Instant Payments + NQR Nigeria (legacy).

Implementations & partners

Major Nigerian banking + payments competitors: Zenith Bank (Zenith Bank; NGX: ZENITHBANK) + First Bank of Nigeria (FirstMobile) (First Bank of Nigeria FBN; NGX: FBNH) + GTBank (Guaranty Trust Bank; GTWorld) (Guaranty Trust Bank GTBank; NGX: GTCO) + Access Bank (Access Bank; NGX: ACCESSCORP) + UBA (United Bank for Africa) (UBA United Bank for Africa; NGX: UBA) + Union Bank of Nigeria (Union Bank of Nigeria UBN; NGX: UBN) + Fidelity Bank Nigeria (Fidelity Bank Nigeria; NGX: FIDELITYBK) + Wema Bank (Wema Bank; NGX: WEMABANK) + Sterling Bank Nigeria (Sterling Bank; NGX: STERLINGNG) + FCMB First City Monument Bank (First City Monument Bank FCMB; NGX: FCMB) + Ecobank / Ecobank Mobile App (Ecobank Transnational Inc; ETI) + Stanbic IBTC Nigeria / Stanbic IBTC Mobile 3.0 (APPbility) (Stanbic IBTC; NGX: STANBIC) + Polaris Bank (Polaris Bank Plc) + Jaiz Bank (Jaiz Bank; NGX: JAIZBANK; Nigerian Islamic bank) + Standard Chartered Nigeria (Standard Chartered Nigeria) + Citibank Nigeria (Citibank Nigeria; Citigroup US subsidiary).

Regulators: CBN Central Bank of Nigeria + NDIC Nigeria Deposit Insurance Corporation.

Status

Liquidated, Nigerian commercial bank + CBN Central Bank of Nigeria seizure + liquidation Jun 3 2024 post-financial distress + operations suspended + legacy commercial bank ^{1, 2}.

Sources

1 Heritage Bank — official
2 Heritage Bank — Wikipedia
^{Nigeria report} In-corpus: reports/countries/NG-nigeria.md

Source

Biography extracted from heritage-bank-nigeria.md. See matrix.md for standards-support matrix if present.