• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Companies Company News

Skye Bank CEO makes two key comments regarding Mainstreet Bank Acquisition

Nairametrics by Nairametrics
June 9, 2015
in Company News
Skye Bank Plc MD “Retires” Appoints Timothy Oguntayo As New MD/CEO
Share on FacebookShare on TwitterShare on Linkedin

Newspaper reports suggest Skye Bank Plc is considering adopting the holding company (HoldCo) structure. The bank according to the report also disclosed that it has engaged the services of a consultant to look at the benefits of the banking model.

On whether it will close or retain branches

“We have engaged consultants to look at the value in Mainstreet Bank subsidiaries, to know their value. Should we sell them or should we retain them? And those that have adopted HoldCo structure, what is the advantage they have over the core-banking institutions? So at the end of the study, by the third quarter we would have taken decisions.”

He also said Skye Bank has achieved 50 per cent integration with Mainstreet Bank, explaining that the strategy intent of the acquisition of the acquisition was firstly for economies of scale.

RelatedStories

Ponzi, SEC, SEC, FCCPC sign MoU to simplify merger process for quoted companies, Rights issue dominates quoted companies capital raise in 3 years, Victims of ponzi scheme, Dantata Success and Profitable Company, to be settle

SEC advises Afribank shareholders to claim dividends 

September 3, 2019
NSE delists Skye Bank and Skye Bank and Fortis Microfinance Bank

2 banks delisted from NSE

August 22, 2019

On whether it will close branches

 

“The products harmonisation will has been scheduled for second quarter of this year,” he assured.

“We have just taken over Mainstreet Bank and we don’t want to be in a haste to rationalise branches. But there are some that are obvious. For instance, if we are located on this side of the road and Mainstreet Bank is also on same side of the road, unless the two branches can justify their existence, it will be a waste of money running two branches and two operating expenses.

“You know in Nigeria every bank has two generators. So, those are costs that we would avoid. For instance, if you have two branches in close proximity, one is owned by Skye Bank and Mainstreet is occupying a rented property in its own branch, it means then that we must collapse them into our property. But that is an ongoing process and before the end of the third quarter we must have determined all of that,” he explained.

“There are areas where Mainstreet is present which we are not, most especially the South-east and some areas. So, having presence in some of those areas, we would be able to tap from the opportunities there.

 

Tags: Skye Bank
Nairametrics

Nairametrics

Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

Related Posts

Ponzi, SEC, SEC, FCCPC sign MoU to simplify merger process for quoted companies, Rights issue dominates quoted companies capital raise in 3 years, Victims of ponzi scheme, Dantata Success and Profitable Company, to be settle
Business News

SEC advises Afribank shareholders to claim dividends 

September 3, 2019
NSE delists Skye Bank and Skye Bank and Fortis Microfinance Bank
Business News

2 banks delisted from NSE

August 22, 2019
Skye Bank, EFCC, Polaris Bank, Olatunde Ayeni, Timothy Oguntayo
Business News

EFCC files suit against ex Skye Bank Chairman Tunde Ayeni

March 2, 2019
Okpara - This is how Bazz Tomatoes founder lost over $100,000
Business News

This is how Bazz Tomatoes founder lost over $100,000

January 9, 2019
Skye Bank
Business News

How CBN’s decision on Skye Bank saved 6,000 jobs

November 7, 2018
Words on the street on the sale of Polaris Bank to SCIL for N50 billion 
Business News

AMCON outlines its plans for Polaris Bank

October 11, 2018
Next Post
[WINTER IS COMING] Only these 4 banks may withstand the pain -Renaissance Capital

[WINTER IS COMING] Only these 4 banks may withstand the pain -Renaissance Capital

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • Top fintech apps in Nigeria with over 10 million downloads as of May 2025 
  • IMT 4.0. sets stage for 2025 Edition, names former McKinsey partner, tech innovator, Per Lagerström as headline speaker 
  • NGX, IFC strengthen Nigeria’s sustainable finance drive with labelled bond workshop

Follow us on social media:

Recent News

Top fintech apps in Nigeria with over 10 million downloads as of May 2025 

Top fintech apps in Nigeria with over 10 million downloads as of May 2025 

June 23, 2025
IMT 4.0. sets stage for 2025 Edition, names former McKinsey partner, tech innovator, Per Lagerström as headline speaker 

IMT 4.0. sets stage for 2025 Edition, names former McKinsey partner, tech innovator, Per Lagerström as headline speaker 

June 23, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics