Greenwich Bank Limited has opened branches in Akure, Ondo State, and Ado-Ekiti, Ekiti State, as it moves to serve small businesses, traders and farmers in the South-West after its transition to commercial banking.

The Akure branch was commissioned on Thursday by Ondo State Governor Lucky Aiyedatiwa, represented by his deputy, Dr Olayide Adelami. Ekiti State Governor Abiodun Oyebanji, represented by his Chief of Staff, Niyi Adebayo, commissioned the Ado-Ekiti branch on Friday, October 9.

The branches follow three others opened in Lagos, and are the bank’s first outside Lagos since it received a commercial banking licence from the Central Bank of Nigeria (CBN).

Greenwich Bank’s Head of Corporate Communications, Ozena Utulu, said in a statement that the expansion was meant to improve access to financial services and support business growth in the region.

Group Chairman of Greenwich Holdings Limited, Kayode Falowo, said the licence would allow the bank to extend its investment and merchant banking expertise beyond large institutions.

“With the commercial banking licence granted by the Central Bank of Nigeria, Greenwich Bank will extend its expertise into communities across the country, serving not only as an adviser to major institutions but also as a trusted partner to the farmers, traders, entrepreneurs and families,” he said.

Falowo said the bank would support farmers and cooperatives, as well as processors and exporters who add value locally, in Ondo State. He added that the goal was to help keep more of the value of the state’s produce within the state.

The bank’s Chairman, Segun Oloketuyi, described the new branches as a step in its growth into a broader financial institution. He said the bank would use its capital base, technology and customer relationships to deliver its services.

Governors Aiyedatiwa and Oyebanji welcomed the bank. Aiyedatiwa assured it of the Ondo State Government’s support, while Oyebanji said its presence would boost business activity in Ekiti.

The Deji of Akure, Oba Aladetoyinbo Aladelusi, and the Ewi of Ado-Ekiti, Oba Adeyemo Aladesanmi, also welcomed the bank. The Group Managing Director of Greenwich Holdings, Oyewale Ariyibi, and the Managing Director of Greenwich Bank, Benson Ogundeji, were at the ceremonies.

Greenwich Bank traces its history to June 1994, when Greenwich Trust Limited began operations as a financial adviser and issuing house regulated by the Securities and Exchange Commission. It became Greenwich Merchant Bank in 2020 after obtaining a merchant banking licence.