# Polaris Bank

> Source: https://docs.barcoder.ai/docs/wallets/polaris-bank
> research date 2026-06-01 · extracted at 2026-10-03
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [Polaris — official](https://www.polarisbanklimited.com/)

## Overview

**Polaris Bank** is **Nigerian commercial bank** + **Strategic Capital Investment Limited SCIL Nigerian investment consortium parent post-Oct 2022 ~$540M acquisition from AMCON** + **founded Sep 21 2018 as Polaris Bank post-Skye Bank Nigerian banking restructuring** <sup>[1][1], [Nigeria report](https://docs.barcoder.ai/docs/payments/NG)</sup>.

## History

**1989 — Prudent Bank founded as Nigerian commercial bank**.

**2006 — Skye Bank consolidation via 5-bank merger of Prudent Bank + Bond Bank + Reliance Bank + Cooperative Bank + EIB International Bank**.

**Sep 21 2018 — Polaris Bank founded as Polaris Bank post-Skye Bank Nigerian banking restructuring by AMCON Asset Management Corporation of Nigeria**.

**Oct 2022 — Strategic Capital Investment Limited SCIL acquires Polaris Bank from AMCON for ~$540M**.

## Ownership & operator

**Operating entity**: **Polaris Bank Plc** (Nigerian commercial bank; SCIL parent).

**Major shareholders**: **Strategic Capital Investment Limited SCIL (Nigerian investment consortium) parent post-Oct 2022 ~$540M acquisition from AMCON**.

**Regulators**: **CBN Central Bank of Nigeria**.

## Technical integration

Polaris Vulte mobile app (iOS + Android) + polarisbanklimited.com online + Polaris Bank branch network across Nigeria + Polaris Visa + Mastercard + Verve cards; NG IBAN + NIBSS Instant Payments + NQR Nigeria.

## Implementations & partners

**Major Nigerian banking + payments competitors**: [Zenith Bank](https://docs.barcoder.ai/docs/wallets/zenith-bank) (Zenith Bank; NGX: ZENITHBANK) + [First Bank of Nigeria (FirstMobile)](https://docs.barcoder.ai/docs/wallets/first-bank-nigeria) (First Bank of Nigeria FBN; NGX: FBNH; Nigeria's oldest commercial bank since 1894) + [GTBank (Guaranty Trust Bank; GTWorld)](https://docs.barcoder.ai/docs/wallets/gtbank) (Guaranty Trust Bank GTBank; NGX: GTCO) + [Access Bank](https://docs.barcoder.ai/docs/wallets/access-bank) (Access Bank; NGX: ACCESSCORP; Nigeria's #2 commercial bank by assets) + [UBA (United Bank for Africa)](https://docs.barcoder.ai/docs/wallets/uba) (UBA United Bank for Africa; NGX: UBA; Pan-African banking group) + [Union Bank of Nigeria](https://docs.barcoder.ai/docs/wallets/union-bank-nigeria) (Union Bank of Nigeria UBN; NGX: UBN) + [Fidelity Bank Nigeria](https://docs.barcoder.ai/docs/wallets/fidelity-bank-nigeria) (Fidelity Bank Nigeria; NGX: FIDELITYBK) + [Wema Bank](https://docs.barcoder.ai/docs/wallets/wema-bank) (Wema Bank; NGX: WEMABANK; Nigeria's oldest indigenous commercial bank since May 2 1945) + [Sterling Bank Nigeria](https://docs.barcoder.ai/docs/wallets/sterling-bank-nigeria) (Sterling Bank; NGX: STERLINGNG) + [FCMB First City Monument Bank](https://docs.barcoder.ai/docs/wallets/fcmb-nigeria) (First City Monument Bank FCMB; NGX: FCMB) + [Ecobank / Ecobank Mobile App](https://docs.barcoder.ai/docs/wallets/ecobank) (Ecobank Transnational Inc; ETI; Pan-African banking group) + [Stanbic IBTC Nigeria / Stanbic IBTC Mobile 3.0 (APPbility)](https://docs.barcoder.ai/docs/wallets/stanbic-ibtc) (Stanbic IBTC; NGX: STANBIC; Standard Bank Group Nigerian subsidiary) + [OPay](https://docs.barcoder.ai/docs/wallets/opay) (OPay; Nigerian super-app + mobile money) + [Kuda Bank](https://docs.barcoder.ai/docs/wallets/kuda-bank) (Kuda Bank Nigerian digital bank) + [Carbon](https://docs.barcoder.ai/docs/wallets/carbon) (Carbon Nigeria digital bank).

**Regulators**: CBN Central Bank of Nigeria.

## Status

**Active, Nigerian commercial bank + Strategic Capital Investment Limited SCIL Nigerian investment consortium parent post-Oct 2022 ~$540M acquisition from AMCON + founded Sep 21 2018 as Polaris Bank post-Skye Bank Nigerian banking restructuring** <sup>[1][1], [2][2]</sup>.

## Sources

[1]: https://www.polarisbanklimited.com/ "Polaris — official"
[2]: https://en.wikipedia.org/wiki/Polaris_Bank "Polaris — Wikipedia"
[ng-cro]: https://docs.barcoder.ai/docs/payments/NG

- [1] [Polaris — official][1]
- [2] [Polaris — Wikipedia][2]
- <sup>[Nigeria report](https://docs.barcoder.ai/docs/payments/NG)</sup> In-corpus: `reports/countries/NG-nigeria.md`

## Source

Biography extracted from [polaris-bank.md](https://docs.barcoder.ai/source/wallets/polaris-bank). See `matrix.md` for standards-support matrix if present.