Energy Bank

Energy Bank, STP
Private
Industry Financial services
Headquarters Sao Tome, Sao Tome
Key people
 Jimoh Ibrahim
Chairman[1]
Products Loans, Checking, Savings, Investments, Debit cards
Number of employees
 35
Website Homepage

Energy Bank Sao Tome e Principe, also referred to as Energy Bank STP, but commonly known as Energy Bank, is a commercial bank in Sao Tome. It is one of the Eight (8) commercial banks licensed by the Central Bank of São Tomé and Príncipe, the country's banking regulator.[2]

Overview

As of February 2011, Energy Bank is a small financial services provider in Sao Tome. The banks total assets are estimated at about US$10 million. The shareholders' equity is estimated at about US$6.8 million.[3]

History

Energy Bank Sao Tome & Principe (STP), commenced operation as Oceanic Bank (STP) on 14 July 2008. Its second branch, in the proximity of the main market was opened on 11 May 2010. A one hundred percent acquisition of the Bank was done by Global Fleet (United Kingdom), under the able leadership of Dr. Jimoh Ibrahim, OFR - Chairman, which transaction transferred ownership and control of Oceanic Bank in June, 2011.

Ownership

The shares of stock of Energy Bank is privately owned. The major shareholders in the bank are (a) the Global Fleet UK, (b) the Nicon Insurance, STP, the two principal shareholders are linked to Jimoh Ibrahim, the Nigerian industrialist and entrepreneur who serves as the bank's Chairman. The shareholding in the bank's stock is depicted in the table below:[4]

Energy Bank Stock Ownership
Rank Name of OwnerPercentage Ownership
1Global Fleet, UK United Kingdom88
2Nicon Insurance, STP of Sao Tome e Principe,10
3Others2
Total100.00%

Governance

In line with the Policy Guidelines on Corporate Governance issued by the Central Bank of Sao Tome (the Regulator), our Bank’s corporate governance policies are designed to ensure the independence of the Board of Directors, with a firm commitment to adhere to the highest standards of integrity professionally and ethically.

Global Fleet Group

Energy Bank is a member of Global Fleet Group, a Nigeria-based conglomerate, with business interests in Nigeria, Ghana and São Tomé and Príncipe. The member companies of the Group include the following businesses:[5]

  1. Air Nigeria[6] - Lagos, Nigeria - Formerly Virgin Nigeria
  2. Nicon Insurance[7] - Lagos, Nigeria
  3. Nigeria Re-Insurance Corporation - Lagos, Nigeria
  4. Nicon Luxury Hotel - Abuja, Nigeria - Formerly Le' Meridien Hotel
  5. The Nicon Group - Lagos, Nigeria - Holdings include investment companies, schools, real estate holdings, transport companies and others
  6. Nicon Properties Limited
  7. Global Fleet Oil and Gas - A chain of gasoline stations across Nigeria
  8. Global Fleet Building - Lagos, Nigeria - Formerly Allied Bank Building
  9. Nicon Hotels - Lagos, Nigeria
  10. Global Fleet Industries - Lagos, Nigeria - Formerly HFP Industries Limited
  11. Energy Bank - Accra, Ghana - A new commercial bank in Ghana, started operations in February 2011
  12. Energy Bank São Tomé - São Tomé, São Tomé and Príncipe - Commercial bank purchased from Oceanic Bank in May 2011 and rebranded to current name.
  13. Global Media Mirror Limited - Lagos, Nigeria

See also

References

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