The Assets Management Corporation of Nigeria (AMCON) says it will conclude process for the sale of Keystone Bank soon.
The Managing Director and Chief Executive Officer of the corporation, Mr Ahmed Kuru, disclosed this in Lagos, saying that the it was in the final stage of the sale process.
The result, he said, would be announced this month.
Keystone Bank, formerly known as the Bank PHB Plc, is the only bank that remains to be sold out of the three bridge banks acquired by the corporation in 2011.
It would be recalled that Sterling Bank Plc, a couple of weeks ago, ended talks on buy rival Keystone Bank Limited after finding it unsuitable, its chief finance officer, Abubakar Suleiman, disclosed.
Sterling Bank had said in February that it aimed to buy one or two mid-sized lenders as sharp fall in the value of the naira and increased regulatory pressure forced banks to recapitalise.
Kuru said: “We are almost at the final stages of the process. I think in the next two weeks, we should be able to conclude and announce the result. It is a long process and because it is a financial institution, we don’t like to talk about it because if we do, it can have an impact on what they are doing.”
