The Lagos State Government has welcomed Greenwich Bank Limited’s opening of three commercial banking branches in Lagos, describing the move as a development that could boost financial inclusion, wealth creation and economic growth across the state.
The bank officially opened its new branches in Surulere, Ikoyi and Victoria Island on Friday, October 2, marking the first major stage of its physical expansion after transitioning from a merchant bank to a commercial bank with regional authorization.
Speaking at the event, Lagos State Governor Babajide Sanwo-Olu, who was represented by the Commissioner for Finance, Abayomi Oluyomi, said Greenwich Bank could make a meaningful contribution to the state’s economic development, particularly through its long-standing experience in Nigeria’s financial services sector.
Sanwo-Olu, who commissioned the Ikoyi branch, expressed confidence that the bank would provide support to individuals and businesses while contributing to the continued expansion of 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, disclosed that the bank plans to open more branches in other areas covered by the regions authorised by the Central Bank of Nigeria.
Falowo said the institution intended to combine the standards of institutional banking with the everyday financial needs of customers, regardless of the size or nature of their businesses.
“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,” he said.
According to him, the physical branches would work alongside the bank’s digital platforms, providing customers with both convenient in-person access and technology-enabled banking services.
Chairman of Greenwich Bank Limited, Segun Olekutuyi, described the opening of the three branches as a major milestone in the institution’s development and the beginning of a new phase for the bank.
He said Greenwich Bank would focus on meeting the expectations of its various stakeholders through quality products and services, integrity, speed and value delivery.
Also speaking, Group Chairman of Nigerian Exchange Group, Umaru Kwairanga, praised the bank’s leadership for its vision and said NGX Group was pleased with Greenwich’s evolution over the years and its contributions to Nigeria’s financial system.
Kwairanga acknowledged the competitive nature of the banking sector but said Greenwich Bank had an important role to play in expanding the financial market and helping its customers achieve growth.
Group Managing Director of Greenwich Holdings Limited, Oyewale Ariyibi, said the group would continue to build its capital base, increase its presence in retail financial services and advance its digital transformation efforts.
He explained that the expansion of Greenwich Bank was part of a wider plan to develop a stronger financial services group capable of delivering complementary solutions across banking, asset management, securities and other related financial services.
Managing Director of Greenwich Bank Limited, Benson Ogundeji, said the launch of the branches represented another significant step in the bank’s development and its efforts to bring its expanded services closer to customers.
Ogundeji noted that the commercial banking licence would enable Greenwich to build on its established corporate and institutional banking background while extending its relationship-focused approach to individuals, small and medium-sized enterprises and a broader range of businesses.
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