Polaris Bank traces its roots back to the establishment of Prudent Bank Plc in 1989.
Prudent Merchant Bank Limited merged with Bond Bank Limited, EIB International Bank Plc, Reliance Bank Limited, and Co-operative Bank Plc to create Skye Bank Plc.
In 2014, Skye Bank Plc acquired Mainstreet Bank Limited.
The Central Bank of Nigeria revoked Skye Bank's operating license in 2018, and Polaris Bank Limited subsequently took over its assets and liabilities.
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