GREENWICH SECURES REGIONAL COMMERCIAL BANKING LICENCE

Greenwich has secured regulatory approval to operate as a regional commercial bank, marking a major step in the financial services group’s expansion beyond its traditional merchant banking operations.

Following the approval, Greenwich Merchant Bank Limited has changed its name to Greenwich Bank Limited, giving the institution the capacity to provide a broader range of banking services to individuals, businesses, and public-sector organisations.

The new licence will allow the bank to expand its customer base beyond large corporate clients to include retail customers, small and medium-sized enterprises, commercial organisations, and other segments of the economy.

Greenwich Bank also plans to strengthen its physical presence and expand its digital banking channels as it seeks to improve access to financial services across its authorised operating regions, including Abuja.

The transformation forms part of a broader strategy focused on strengthening the bank’s governance, technology infrastructure, and operational capabilities.

Group Chairman of Greenwich Holdings Limited, Kayode Falowo, described the approval as an important milestone, saying it reflects years of investment and strategic execution.

The bank’s Managing Director and Chief Executive Officer, Benson Ogundeji, said the new status would increase its capacity to serve a wider range of customers while maintaining its relationship-driven approach.

Greenwich said it would focus on responsible growth, financial inclusion, entrepreneurship, and solutions that support businesses and individuals across Nigeria.