FirstBank Announces Subsidiary Name Change, Reaffirms Commitment To Global Business Growth
FBN Guinea has joined other subsidiaries of its parent company, First Bank of Nigeria Limited (Nigeria’s premier financial inclusion services institution) on a name change to align with the parent brand and to enjoy the strong heritage and brand equity built by First Bank of Nigeria Limited (FirstBank) in its over 129 years of banking leadership.
With the name change, FBNBank Guinea will now be known as FirstBank Guinea, following the footsteps of FBNBank UK, FBNBank Sierra Leone, FBNBank Gambia, and FBNBank DRC, the first set of subsidiaries to reflect the FirstBank naming identity as these banks are now known as FirstBank UK, FirstBank Sierra Leone, FirstBank Gambia, and FirstBank DRC.
The name change of FBNBank Senegal and FBNBank Ghana will be effected thereafter.
The name change will further enhance the quality-of-service delivery resulting in better brand clarity, uniformity, and consistency across all the markets where the Bank operates.
A leading financial inclusion services provider, FirstBank Group is committed to its nation-building goal. It has taken giant performance strides on its unique growth trajectory as it continues to build distinctive capabilities through partnerships and the constant drive to reinvent itself.
This performance is evidenced in the numerous awards and recognitions bestowed on the institution. These awards include Best Private Bank for Sustainable Investing in Africa 2023 by Global Finance Awards; Best Corporate Bank in Western Africa 2022 by Global Banking & Finance; Best CSR Bank Africa by International Business Magazine in 2022; and ranked as number one in Nigeria in terms of Overall Performance; Profitability; Efficiency and Return on Risk by the Top 100 African Bank Rankings 2022 released by The Banker Magazine from the stables of Financial Times.
In addition, in Euromoney Market Leaders, an independent global assessment of the leading financial service providers conducted by Euromoney Institutional Investor Plc., the Bank was crowned: Market Leader in Corporate and Social Responsibility (CSR); Market Leader in Environmental, Social, and Governance (ESG); Highly Regarded in Corporate Banking and Digital Solutions and Notable: in SME Banking.
Speaking on the name change, Dr. Adesola Adeduntan, CEO of FirstBank Group, said
“The name change which coincides with FirstBank’s 129th founding anniversary (as of March 31st, 2023) is indeed a milestone reflective of our resolve to continuously provide the gold standard of excellence and value as we put our customers First.
The new identity of the subsidiaries contributes to an enhanced brand presence. It helps our customers and stakeholders better appreciate the value of the diversified product suites, competitive pricing, and extensive business networks the FirstBank Group offers.
These include our commitment to boosting cross-border businesses including trade and investment opportunities essential to enhancing trade relations amongst countries, thereby strengthening the economies of host communities and reducing poverty,” he concluded.
Financial Services Awards.
Notably, in 2022, the Bank took a long stride on its growth trajectory with the Bank’s Viability and Long-Term Issuer Default Ratings upgraded to ‘B’ from ‘B-‘ (with Outlook Stable) by Fitch, a leading global rating agency. This is an indication of the Bank’s strong internal capital generation and the corresponding recession of its risks to capitalization.
Fitch also upgraded the Bank’s National Long-Term Ratings to ‘A (nga)’ from ‘BBB (nga)’, to reflect its improved creditworthiness relative to that of other issuers in Nigeria. Furthermore, the Top 100 African Bank Rankings 2022 released by The Banker Magazine revealed FirstBank’s ranking as number one in Nigeria in terms of Overall Performance, Profitability, Efficiency, and Return on Risk.
Other laudable feats in 2022 include FirstBank’s international recognition on major indices by Euromoney Market Leaders, an independent global assessment of the leading financial service providers where FirstBank was crowned:
Market Leader: (tier-1 recognition) in Corporate and Social Responsibility (CSR),
Market Leader: (tier -1 recognition) Environmental, Social and Governance (ESG),
Highly Regarded: in Corporate Banking and Digital Solutions,
Notable: in SME Banking.
Also, in 2022 International Finance Magazine named the Bank “Most Innovative Banking Product in Nigeria” and “Best Retail Bank in Nigeria”. FirstBank was also awarded “Best Corporate Banking Western Africa, 2022” and “Best CSR Bank Western Africa, 2022’’ by Global Banking and Finance Magazine.
Other notable awards in FirstBank coffers include: “Best Bank in Nigeria” by Global Finance Magazine – fifteen times in a row; “Best Private Bank in Nigeria-2021” awarded by Global Finance magazine; “Best Internet Banking Nigeria” and ‘’Best CSR Bank Africa’’ by International Business Magazine.
In 2023, FirstBank received notable awards including “Best Private Bank for Sustainable Investing in Africa 2023” by Global Finance Awards; “Best Sustainable Bank in Nigeria 2023” by International Investors Awards; “Best Bespoke Banking Services in Nigeria 2023” by International Investors Awards; “Best Financial Inclusion Service Provider in Nigeria 2023” by Digital Banker Africa; and “African Bank of the Year” by African Leadership Magazine.
Our vision is ‘To be Africa’s Bank of first choice’ and our mission is ‘To remain true to our name by providing the best financial services possible. This commitment is anchored on our core values of EPIC – Entrepreneurship, Professionalism, Innovation, and Customer-Centricity.
Our strategic ambition is ‘To deliver accelerated growth in profitability through customer-led innovation and disciplined execution and our brand promise is always to deliver the ultimate “gold standard” of value and excellence to position You First in every respect.
Post a Comment