Nigeria: Mainstreet Bank - Investing in Successful Turnaround

26 October 2014
analysis

Having undergone one of the most successful corporate turnarounds in Nigeria's financial services industry, analysts believe a combination of the robust balance sheet and visibility of Mainstreet Bank Limited will be a great asset to its new investors, reports Festus Akanbi.

Mainstreet Bank Limited, one of the three bridged banks, has just undergone what experts and analysts have hailed as one of the most amazing corporate turnarounds in the annals of distress resolution in Nigeria's financial services landscape. As a result, financial analysts see a combination of the Bank's robust balance sheet, cutting edge core banking application and an empowered workforce as a great asset to its new investors - Skye Bank Plc - which emerged as AMCON's preferred bidder in the sale of the bank.

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