Keystone Bank: CBN not planning to revoke our licence

Keystone Bank says the Central Bank of Nigeria (CBN) has no plans to withdraw its licence.

On Tuesday, Hassan Imam, the chief executive officer (CEO) of Keystone Bank, said the clarification became necessary due to the constant spread of fake news, especially on social media platforms like WhatsApp.

In June, the CBN said it has no plans to revoke the licences of Unity, Polaris, and Keystone banks.

Online reports had claimed the apex bank would terminate the licences of the three banks, following the revocation of Heritage Bank’s licence.

Imam said the bank’s retail services remain strong, maintaining second place in the industry rankings and being recognised as the ‘Retail Bank of the Year’ in KPMG’s 2023 report.

“We wish to set the records straight that we are strong and have continued to grow our balance sheet while delivering exceptional value to our stakeholders,” the CEO said.

“We are actively pursuing legal action against those responsible for spreading fake news and are committed to holding them accountable.

“As a bank, we have continued to operate from a position of financial strength, consistently meeting our obligations as well as all regulatory requirements.

“Our retail banking services have also been recognised for excellence, ranking second in the industry according to the KPMG BICX 2023 Report, and the bank emerged as the ‘Retail Bank of the Year’ at the Africa Industrial and Development Conference and Awards 2024.”

Imam said the recent appointment of the board of directors by CBN, made up of experienced bankers and professionals from various fields, has further strengthened their governance structure.