Enterprise Bank’s Acquisition Gets Convoluted As Heritage Bank Goes To Court
The last has not been heard of the questionable acquisition of Enterprise Bank Limited by Heritage Banking Company Limited trading under the name of Heritage Bank. It is a known fact that as at the time of its acquisition, Enterprise Bank Limited by all standards was more successful and vibrant than Heritage Bank, which acquired it. One basic pointer to this fact remains that while Enterprise Bank Limited with 156 branches declared a profit of three billion in 2014, Heritage Bank with less than 10 operational branches has never declared its account in its years of doing business in Nigeria. As the puzzle begins to be unraveled, more questions than answers are emerging.