Greenwich Bank Limited has opened three commercial banking branches in Lagos as it begins operations under its new regional commercial banking authorisation.
The bank officially opened branches in Ikoyi, Victoria Island and Surulere on Friday, October 2, 2026, marking the first major phase of its physical expansion following its transition from merchant banking to commercial banking. The PUNCH reported the openings on October 5, 2026.
The expansion followed regulatory approval granted in August 2026 for Greenwich Bank to operate as a regional commercial bank, widening its customer base beyond its traditional merchant banking franchise to include individuals, small and medium-sized enterprises, commercial organisations and public-sector institutions.
The Ikoyi branch on Awolowo Road will also house Greenwich Asset Management and Greenwich Securities, allowing customers to access banking, investment and wealth-management services within the same location.
Lagos State Governor Babajide Sanwo-Olu, represented by the Commissioner for Finance, Abayomi Oluyomi, said the expansion could support financial inclusion, wealth creation and economic growth in the state.
Sanwo-Olu, who commissioned the Ikoyi branch, said Lagos needed banks capable of expanding business opportunities and expressed confidence that Greenwich would support businesses and customers.
“Lagos needs banks like Greenwich to expand business opportunities, and we are confident that Greenwich Bank will support businesses and customers to grow,” he said, according to The PUNCH’s report of October 5, 2026.
Group Chairman of Greenwich Holdings Limited, Kayode Falowo, said the bank would establish additional branches in locations within the regions approved by the Central Bank of Nigeria.
Falowo said Greenwich would bring its experience in institutional banking to everyday banking needs, including those of market traders and corporate customers.
“We will bring the discipline of institutional banking to bear on those everyday needs, so that a market trader and a corporate client can both expect the same professional service and respect,” he said.
Greenwich Bank Chairman Segun Oloketuyi described the expansion as a significant milestone in the institution’s development, while Managing Director and Chief Executive Officer Benson Ogundeji said the new branches would make the bank’s expanded capabilities more accessible to customers.
The bank is also preparing to expand its physical network beyond Lagos. BusinessDay reported on October 2, 2026, that Greenwich plans to establish a broader footprint and eventually pursue a national banking licence.
Two additional branches in Akure and Ado-Ekiti are scheduled for commissioning on October 8 and October 9, 2026, respectively, according to reports on the bank’s expansion.
Group Managing Director of Greenwich Holdings Limited, Oyewale Ariyibi, said the group would continue to strengthen its capital base, expand its retail financial-services footprint and accelerate its digital transformation agenda.
The commercial banking move marks a new phase for Greenwich, which has operated across investment banking, securities, asset management and other financial-services businesses before moving into merchant banking in 2020.
