The Lagos State Government has commended Greenwich Bank Limited for opening its first three commercial banking branches in Lagos, describing the expansion as a positive development that would support financial inclusion, wealth creation and economic growth in the state.
Greenwich Bank on Friday, 2 October, officially opened branches in Surulere, Ikoyi and Victoria Island, marking the first major phase of its physical branch rollout following its transition from a merchant bank to a commercial bank with regional authorisation.
Lagos State Governor, Babajide Sanwo-Olu, represented by the Commissioner for Finance, Abayomi Oluyomi, said Greenwich Bank had an important role to play in the economic development of the state, particularly given its decades of experience and contribution to Nigeria’s financial services industry.
The governor, who performed the commissioning of the Ikoyi branch, expressed optimism that the bank would support individuals and businesses while contributing to the continued growth of the Lagos economy.
“Lagos needs banks like Greenwich to expand business opportunities, and we are confident that Greenwich Bank will support businesses and customers to grow. The entrance of the bank into the state’s financial ecosystem is very important to the business enterprise of the state,” he said.
Group Chairman of Greenwich Holdings Limited, Kayode Falowo, emphasised that the bank would establish additional branches in other locations within the regions approved by the Central Bank of Nigeria.
“We will bring the discipline of institutional banking to bear on those everyday needs, so that a market trader and a corporate client can both expect the same professional service and respect,” Falowo said.
He added that the new branch network would complement the bank’s digital channels by combining physical accessibility with technology-driven banking services.
Also speaking, Greenwich Bank Limited Chairman Segun Olekutuyi described the branch openings as a significant milestone and the start of a new chapter for the institution.
He said the bank would seek to meet the aspirations of its broad range of stakeholders through quality services and products, integrity, speed and value for customers.
Group Chairman of Nigerian Exchange Group, Umaru Kwairanga, commended the Board of Greenwich Bank for its vision, noting that NGX Group was proud of the institution’s evolution over the decades and its contribution to Nigeria’s financial system.
Kwairanga said that despite the competitive nature of the banking industry, Greenwich Bank had a unique role to play in deepening the financial market and supporting customers to grow.
Group Managing Director of Greenwich Holdings Limited, Oyewale Ariyibi, said the group would continue to strengthen its capital base, expand its retail financial services footprint and accelerate its digital transformation agenda.
He said the expansion of Greenwich Bank formed part of a broader strategy to build a stronger financial services group capable of providing complementary solutions across banking, asset management, securities and other related financial services.
Managing Director of Greenwich Bank Limited, Benson Ogundeji, said the branch openings marked an important stage in the bank’s evolution and its efforts to make its expanded capabilities more accessible to customers.
According to Ogundeji, the commercial banking licence provides Greenwich with an opportunity to build on its corporate and institutional banking heritage while extending its relationship-driven model to individuals, SMEs and a wider range of businesses.
