Bank PHB was incoporated as a private limited liability company on 9th February 1989. It was then known as Nationwide Merchant Bank Ltd. In 2000, the bank's name was changed to Platinum Bank Limited and converted to a public limited liability company on 5th August 2005, and its share listed on the Nigerian Stock Exchange in 7th December 2005. Following the merger in December 2005 of Platinum Bank Plc and Habib Bank Plc, Bank PHB was re-issued a universal banking licence on 3rd January 2006 by the Central Bank of Nigeria.