Spring Bank Nigeria Ltd.
Address: Head Office: Plot 143, Ahmadu Bello Way, Victoria Island, Lagos
Phone: +234 1 4619570-3, 2623780-7; Fax: +234 1 2615138, 4619574
Spring bank was formed as a result of the consolidation exercise whic led to the merger of six banks, namely;
ACB International bank plc
Citizens International Bank Plc
Fountain Trust Bank Plc
Guardian Express Bank Plc
Omega Bank Plc
Trans International Bank Plc.
The bank has emerged as a stronger, more profitable one after the merger with a lot of branch expansion and widening customer base. The shareholder's funds attained N34.5 billion, while total assets and contingents stood at over N152 billion.
Spring bank plc is one of the few 24 banks in Nigeria that met the consolidation requirments by the CBN.
In August 2011, due to a CBN audit, Spring Bank failed to scale through due to liquidity problems and was nationalized by the CBN and later transformed to Enterprise Bank. Enterprise Bank is 100% owned by AMCON, under the Federal government.