Skye Bank Plc, formerly Prudent Bank Plc was a public limited liability company incorporated on 8 December 1989 and was issued a banking licence on 7 February, 1990 to carry on all classes of merchant banking business. The bank commenced operations on 2 May, 1990. It was wholly owned by Nigerian citizens. The bank's name was changed from Prudent Merchant Bank to Prudent Bank Plc on 18 February 2000 when all the banks were requested to convert to universal banking by the Central Bank of Nigeria. It therefore commenced operations as a commercial bank in 2001. Following the banking industry consolidation announced by the CBN in July, 2004, it combined its business with the following banks EIB International Bank, Bond Bank Ltd, Reliance Bank Ltd and Co-operative Bank Ltd to form Skye Bank Plc with effect from 1 January, 2006. The shares of the bank are quoted on the Nigeria Stock Exchange.
