The Asset Management Corporation of Nigeria has said it will conclude the process for the sale of Keystone Bank in the next two weeks.
AMCON said it was in the final stage of the sale process, adding that the result would be announced this month.
The Managing Director and Chief Executive Officer, AMCON, Mr. Ahmed Kuru, disclosed this in Lagos on Friday.
Keystone Bank, formerly Bank PHB Plc, is the only one remaining from the three bridge banks that were acquired by the corporation in 2011.
Enterprise Bank was sold to Heritage Bank in 2014, while Mainstreet Bank was acquired by Skye Bank in 2015.
Kuru said, “We are almost at the final stages of the process. I think in the next two weeks, we should be able to conclude and announce the result. You know it is a long process and because it is a financial institution, we don’t like to talk about it because if we do, it can have an impact on what they are doing.
“But we have gone very far and we are at the final stage; in the next one or two weeks, we should be able to come out with the conclusion of the process.”
AMCON was set up in 2010 to absorb bad loans in the banking sector as part of resolving a financial crisis in the country.
AMCON said it was in the final stage of the sale process, adding that the result would be announced this month.
The Managing Director and Chief Executive Officer, AMCON, Mr. Ahmed Kuru, disclosed this in Lagos on Friday.
Keystone Bank, formerly Bank PHB Plc, is the only one remaining from the three bridge banks that were acquired by the corporation in 2011.
Enterprise Bank was sold to Heritage Bank in 2014, while Mainstreet Bank was acquired by Skye Bank in 2015.
Kuru said, “We are almost at the final stages of the process. I think in the next two weeks, we should be able to conclude and announce the result. You know it is a long process and because it is a financial institution, we don’t like to talk about it because if we do, it can have an impact on what they are doing.
“But we have gone very far and we are at the final stage; in the next one or two weeks, we should be able to come out with the conclusion of the process.”
AMCON was set up in 2010 to absorb bad loans in the banking sector as part of resolving a financial crisis in the country.