Greenwich Bank Goes Commercial, Opens 5 Branches In Victoria Island, Ikoyi, Surulere, Akure, Ado-Ekiti
Greenwich Bank Limited has commenced its commercial bank business as it commissioned its first three branches on Friday, October 2, 2026, in Ikoyi, Victoria Island and Surulere, while Akure and Ado-Ekiti branches will be commissioned on October 8 and 9, 2026, respectively.
The commissioning marks the beginning of Greenwich Bank’s strategic expansion of its physical branch network, with plans to extend its presence to other locations in regions approved by the Central Bank of Nigeria (CBN).
These branches represent the first phase of the Bank’s branch expansion following its transition from a Merchant Bank to a regional commercial bank. The expansion is aimed at bringing the Bank’s broader range of banking services closer to individuals, businesses and institutions across its authorised operating regions.
According to a Statement by Greenwich Holdings Head, Corporate Communications, Ozena Utulu, the Ikoyi, Victoria Island and Surulere branches are expected to attract senior government officials, business leaders and other stakeholders, as Greenwich Bank begins to translate its new commercial banking mandate into a wider physical presence.
The expansion follows regulatory approval granted in August 2026 for Greenwich to operate as a regional commercial bank. The approval significantly broadens the institution’s scope beyond its traditional merchant-banking activities, allowing it to serve retail customers, small and medium-sized enterprises (SMEs), commercial organisations and public-sector entities within selected locations across Nigeria.
The new branch network is expected to complement Greenwich Bank’s digital channels as the institution combines physical accessibility with technology-driven banking solutions.
Chairman of Greenwich Bank Limited, Segun Oloketuyi, said the branch expansion represents more than an increase in the bank’s physical presence, describing it as a strategic step in Greenwich Bank’s evolution into a broader-based financial institution.
“The bank would leverage its strengthened capital base, deep industry expertise, technology and relationship-driven approach to deliver innovative and accessible banking solutions while building long-term value for customers, shareholders and other stakeholders across its authorised markets,” Oloketuyi said.
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 efforts to make its expanded capabilities more accessible 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,” said Ogundeji.
The bank plans to support businesses seeking to establish, expand and scale their operations through financing and other financial solutions, while leveraging its corporate and institutional finance expertise to participate in larger commercial opportunities.
Group Chairman of Greenwich Holdings Limited, Kayode Falowo, described the commercial banking approval and subsequent branch expansion as milestones in the group’s long-term transformation.
Falowo said the development reflects sustained investment in governance, human capital, technology and institutional capacity, adding that the new banking status provides a platform for Greenwich to extend its services to more individuals, businesses and communities.
Group Managing Director of Greenwich Holdings, Oyewale Ariyibi, said the group would continue to strengthen its capital base, expand its retail financial services footprint and accelerate its digital transformation agenda.
“The commercial banking license granted Greenwich Bank forms part of a broader strategy to build a stronger financial services group capable of providing complementary solutions across banking, asset management, securities and related financial services”, according to Ariyibi.
Greenwich Holdings comprises Greenwich Bank Limited, Greenwich Capital Markets Limited, Greenwich Asset Management Limited and Greenwich Securities Limited, with its broader financial services ecosystem also encompassing Greenwich Registrars and Data Solution Limited and Greenwich Trustees Limited.
The group traces its roots to Greenwich Trust Limited, which commenced operations in June 1994 as a Securities and Exchange Commission-regulated financial adviser and issuing house. The institution subsequently evolved into Greenwich Merchant Bank in 2020 after obtaining a merchant banking licence.
