Two of out have three Nigeria’s bridge banks, Mainstreet Bank Limited and Enterprise Bank Limited ownership were on Tuesday transferred to their new owners, Skye Bank Plc and Heritage Bank Limited, respectively in Lagos.
The third bridge, Keystone will be sold after the election, the Asset Management Corporation of Nigeria confirmed.
The three banks became bridge banks in 2011 when AMCON bailed them out from becoming distressed.
Their names were then changed from Afribank to Mainstreet Bank, Bank PHB to Keystone and Spring Bank to Enterprise, new management teams were also appointed to run the affairs of the new temporary banks.
The sales of Mainstreet Bank and Enterprise Bank occurred in the last quarter of 2014 when AMCON announced Skye Bank and Heritage Bank as the preffered bidders for both banks.
The new owners have since completed the payments for the 100 per cent shares of the two acquired banks, and are currently conducting a process for seamless integration.