Greenwich Bank’s Commercial Banking Expansion Signals New Growth Chapter — NGX Chairman

 

COMMERCE, INDUSTRY & INVESTMENT  ARENA:




 By allcitynews.ng 




The Chairman of Nigerian Exchange Group (NGX Group), Alhaji (Dr.) Umaru Kwairanga, has commended Greenwich Bank for expanding its franchise from merchant and investment banking into commercial banking, describing the move as a significant milestone in the institution’s growth journey.


Kwairanga made this commendation at the opening of Greenwich Bank’s regional commercial banking branch in Ikoyi, Lagos, on Friday, October 2, 2026.


He said the opening of the branch marked the latest phase in a journey that began about 32 years ago when Greenwich Trust Limited was registered by the Securities and Exchange Commission (SEC) as a financial adviser and issuing house.


According to him, Greenwich quickly established a strong presence in Nigeria’s capital market through innovation and professionalism before becoming one of the few investment banking firms to obtain a merchant banking licence in 2020.


He noted that Greenwich’s transition into merchant banking followed the path pioneered by the late banking doyen, Otunba Subomi Balogun.


“Greenwich Bank has proved itself in investment and corporate banking and met all recapitalisation requirements while boosting market share and profitability,” Kwairanga said.


He added that the group’s recent restructuring into a holding company had created greater opportunities for it to participate in different segments of the financial services industry, with commercial banking being its latest expansion.


Kwairanga acknowledged that commercial banking was a highly competitive and challenging segment, but expressed confidence that Greenwich Bank would succeed, given its commitment to integrity, efficiency, innovation and strong customer relationships.


He congratulated the Greenwich Group leadership, particularly its Group Chairman, Mr. Kayode Falowo; the Managing Director, Mr. Benson Ogundeji; and Director, Dr. Faruk Umar, on the new milestone.


He wished the management and staff of Greenwich Bank continued growth and success as the institution expands its footprint in Nigeria’s




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