AMCON Appoints Managers To Sell Keystone Bank

Keystone BankThe Asset Management Corporation of Nigeria has appointed managers to divest its 100% interest in Keystone Bank.

In a public notice issued by AMCON on Monday, the corporation announced the appointment of Citibank’s local unit and FBN capital as financial advisers to manage the process.

AMCON is asking prospective investors to submit bids, showing evidence of credibility and eligibility for the transaction by March 4, 2016.

Based on its audited account as at June 2015, Keystone Bank has a total assets of about 317.6 billion naira, equity of 18.9 billion naira and a loan portfolio of about 98.2 billion naira.

By December 31 2015, Keystone Bank had 156 branches across the country with four subsidiaries.