Greenwich Bank Begins Commercial Banking, Opens Five Branches in Lagos, Akure and Ado-Ekiti
By Aboki Forex —
Greenwich Bank Limited has formally commenced operations as a regional commercial bank, commissioning three branches in Ikoyi, Victoria Island and Surulere in Lagos on Friday, October 2, 2026.
The bank will commission a branch in Akure on October 8 and another in Ado-Ekiti on October 9, bringing the first phase of its commercial banking network to five locations.
Approval and expanded mandate
The expansion follows regulatory approval granted in August 2026 for Greenwich to operate as a regional commercial bank. That licence widened its mandate beyond traditional merchant banking to include individuals, small and medium-sized enterprises, commercial organisations and public-sector institutions.
The new branches mark the start of Greenwich Bank's planned physical expansion into locations within regions approved by the Central Bank of Nigeria, while complementing its digital banking channels.
Chairman of Greenwich Bank Limited, Segun Oloketuyi, described the transition as a new chapter in the institution's more than three-decade history.
"Our commitment is to build a bank that understands that banking is ultimately about people, their aspirations, their businesses, their families and their future," Oloketuyi said at the Ikoyi commissioning on October 2.
He said Greenwich intends to differentiate itself through service quality, integrity and the value it creates for customers as it moves into retail and commercial banking. He also charged employees of the new branch to make it known for exceptional service, professionalism and operational excellence.
What management is promising
Managing Director and Chief Executive Officer of Greenwich Bank, Benson Ogundeji, said the branch openings represent an important stage in the bank's evolution and its effort to take expanded capabilities closer to customers.
"The opening of these branches is an important part of that journey. We are bringing Greenwich closer to customers while maintaining the quality, professionalism and relationship-driven service for which we are known," Ogundeji said.
The bank plans to support businesses seeking to establish, expand and scale operations through financing and other financial solutions, drawing on its experience in corporate and institutional finance to take part in larger commercial opportunities.
Group Chairman of Greenwich Holdings Limited, Kayode Falowo, said the move into commercial banking was a natural progression after more than three decades across stockbroking, investment banking, issuing house services and other areas of financial services.
"Commercial banking was the natural step for us to follow after all that we have done," Falowo said. "Today, we will do everything that any other bank in Nigeria will do."
He said Greenwich would combine its physical network with technology as it works towards a broader national footprint, and promised a much bigger enterprise within a few years.
The Ikoyi location is also expected to house Greenwich Asset Management and Greenwich Securities, giving customers access to banking, investment and wealth-management services from one place.
NGX backing and capital plans
Chairman of Nigerian Exchange Group, Umaru Kwairanga, said Greenwich's long history in the capital market could provide a foundation for its commercial banking push. He traced the institution's roots to Greenwich Trust Limited and said the group had grown from broker-dealer, issuing house and financial advisory operations into banking, asset management, trusteeship and registrar services.
Kwairanga said a future listing on the Nigerian Exchange is likely as the bank grows. "With the regional licence and, soon, the national licence, you can rest assured that it is only a matter of time before we have Greenwich Bank quoted on the Nigerian Exchange," he said.
Group Managing Director of Greenwich Holdings Limited, Oyewale Ariyibi, said the group would keep strengthening its capital base, expand its retail financial-services footprint and accelerate digital transformation.
Greenwich Holdings comprises Greenwich Bank Limited, Greenwich Capital Markets Limited, Greenwich Asset Management Limited and Greenwich Securities Limited.