The Nation Newspaper

Tag: FirstBank

  • FirstBank sells its microfinance bank

    FBN Holdings Plc, the holding company for FirstBank of Nigeria (FBN) and its former subsidiaries, has concluded arrangements for the sale of the group’s microfinance subsidiary-FBN Microfinance Bank Limited, to Letshego Holdings Limited.

    Letshego, a Botswana company, is  a holding company with consumer and micro lending subsidiaries across nine countries in Southern and East Africa including Botswana,  Kenya,  Lesotho,  Mozambique,  Namibia,  Rwanda,  Swaziland,  Tanzania  and Uganda

    In a regulatory filing obtained at the weekend signed by FBN Holdings’ company secretary, Tijjani Borodo and head of finance, Oyewale Ariyibi, the group said it has obtained the requisite approval from the Central Bank of Nigeria (CBN) for its divestment from FBN Microfinance Bank.

    FBN Holdings has executed Sale Purchase Agreement (SPA) with Letshego Holdings Limited to sell its shares in FBN Microfinance Bank to Letshego Holdings.

    “We expect that the sale will be concluded before the end of the current financial year,” the group stated, referring to its business year ending December 31, 2015, within the next 24 days.

    FBN Holdings’ holding company structure allows it to own and operate the microfinance bank. Central Bank of Nigeria (CBN)’s Scope of Banking Activities and Ancillary Matters No 3, 2010 requires banks to fully concentrate on core banking functions. The new model requires banks to either sell all non-core banking businesses or form a holding company to hold such non-core banking businesses including activities such as insurance, asset management and capital market operations.  Three banks including First City Monument Bank (FCMB) Plc, First Bank of Nigeria (FBN) Plc and Stanbic IBTC Bank Plc then opted for holding company structure while others opted to divest from non-core subsidiaries.

    FBN Holdings’ share price declined by 1.80 per cent to close at N4.90 per share at the weekend, playing the negative contrarian stock in a market with modest average gain of 0.26 per cent.

    Head, Media & External Relations, FBN Holdings Plc, Mr. Babatunde Lasaki, in a response to The Nation’s enquiry said the divestment was part of the a strategic intent to refocus the group.

    He said the board of FBN Holdings decided to divest its interest in FBN Microfinance Bank to a strategic investor on a going concern basis.

     

  • FirstBank unveils SME offerings

    FirstBank unveils SME offerings

    FirstBank of Nigeria Limited has unveiled its new SME campaign specially designed to help Small and Medium Enterprises grow with diverse product and service offerings.

    The lender said it started small and having grown through various stages, has understood the business journey for SMEs.

    It also said it is passionate about supporting them to ensure continuous business growth.

    “Over the years, we have displayed an unwavering commitment to the business success of SMEs in Nigeria with its cocktail of products and bespoke solutions, specifically designed to help grow and sustain SMEs. Given that SMEs are pivotal to national development, we are committed to ensure sustained business growth as well as provide the necessary services to grow businesses and Nigeria’s economy at large,” he said.

    He said the bank provides the right product mix and services with professional staff designated to work with the business owner to provide flexible and dependable services, helping SMEs to achieve consistent growth and success in every area of business.

    According to the bank’s spokesperson, Folake Ani-Mumuney, businesses require more than loans, and the Bank makes available non- financial services to its customers such as access to administrative assistance, translation services, conferences, seminars, forums and other business support services.

     

  • FirstBank restates support for trade fair

    FirstBank restates support for trade fair

    FirstBank has reiterated its support for the 35th edition of Lagos International Trade Fair.

    During the 10-day fair, the bank’s broad clientele and prospective customers will benefit from its expert financial advisory services, on-line-real-time banking, internet and mobile banking, Automated Teller Machine (ATM), card products, mobile payment platforms and money transfer services.

    The trade fair which   kicked off last Friday will also have participants from Rwanda, Tanzania, Zambia, India, Egypt, Chad and Niger Republic in attendance.

    This year’s edition themed: “Enhancing Value Addition in the Non-Oil Economy” was formally declared open over the weekend  at the trade fair ground – Tafawa Balewa Square, Lagos. Over the years, the fair has attracted both local and foreign exhibitors and has continued to provide avenue for various trade groups and professionals to present new products and ideas as well as tap into business opportunities that exist in the country.

    Its GMD/CEO,  Bisi Onasanya, said the bank is proud to be a sponsor of the Lagos International Trade Fair, as this demonstrates our commitment to promoting trade and development in the nation.

    ‘We would continue to promote the industrialisation of the Nigerian economy and the global economy at large through valuable partnerships’, Onasanya added. FirstBank has been a consistent sponsor of the annual trade fair since its inception 35 years ago.

     

  • FirstBank introduces Life is a Movie

    FirstBank introduces Life is a Movie

    •Best customer movie to be used as Television commercial

    FirstBank has brought new concept into its marketing campaign. Tagged Life is a Movie, the campaign gives customers of the bank an opportunity to screen their daily life experiences, upload it on the bank’s social media.

    Giving people to chose or cast their dramatic personae a protagonist or antagonist; or make the life movie a thriller or comedy, the bank said its giving everyone, be it its customers or prospect “to participate in a real-time blockbuster titled “Life is a Movie” featuring our customers.”

    According to the bank, the campaign is meant to actualise the bank’s You First brand promise which was launched last year when the bank hit 120 years of existence in Nigeria and changed its way of banking to meet the need of the market.

    “The Bank is again living up to its brand promise to put YOU first, through a series of consumer experience. Moments in our lives play out like scenes from a movie which could fit into the genres of romance, adventure, comedy and definitely drama. Whatever this moment is, FirstBank is requesting you to share this moment with us so we can begin to see the world from our customers’ point of view,” says an industry analyst.

    With the ‘Life is a Movie Campaign’, the bank said customers can share their life experiences, exciting moments or  adventures capture it with their video camera, send or upload the video recordings their Facebook page and tag FirstBank’s Facebook page, www.facebook.com/firstbankofnigeria; Instagram Page and tag FirstBank’s Instagram Page – www.instagram.com/firstbanknigeria using the hashtag#LifeisaMovie. However, the bank’s creative manager said the best entries will be pulled together to make the first ever customer focused television commercial in Nigeria starring YOU.

    The Bank’s Head of Corporate Communication, Folake Ani-Mumuney, said FirstBank has chosen its customers to run its new ‘YOU FIRST’ advertising campaign in movie style.

    “Having the faces of our customers used as part of our advertising campaign represents not only what we do for our customers, but what our customers do with us.With this campaign, we want you, our customers assured that even when life feels like a movie, FirstBank will be  part of the script with lifestyle-fit products and services you need to make sure your life follows the script you planned” she stated .

    This campaign demonstrates how the Bank puts its customers first. Whether it is getting them to do something new, putting them in line for something special or taking their business to the next level, FirstBank would support its customers, and ensure that they enjoy the different moments of their lives. Having been around for over 120 years, FirstBank has become the trusted and dependable partner throughout the journey of life – experiencing many moments right along with its customers and thus, playing a major role in the movie of their lives.

    According to her, the campaign demonstrates FirstBank’s readiness to stand behind every dream, every new experience, and every accomplishment and much more to better serve customers and truly put them first.

  • FirstBank promotes visual arts

    First Bank of Nigeria Limited, a subsidiary of FBN Holdings Plc and a prime promoter of the creative arts industry in Nigeria, is supporting the visual arts festival in Enugu tagged: “Life in my City”. The bank is supporting the event driven by the quest to promote the arts and preserve cultural heritage.

    “Life in My City” is a visual arts festival targeted at young Nigerian artists below the age of 35 and will provide opportunities for participants to make significant statements about their environment through art exhibitions. This festival has created another opportunity to support Nigerian youth and encourage the growth and developments of natural talents in Nigeria.

    The bank is supporting the event to build capacity, enhance wealth creation for the youth and enable Nigerians to compete favourably at the international art market.

    Through First@arts, FirstBank has encouraged home-grown human capacity development and enhance the creation of employment opportunities within the arts industry, thereby creating a sustainable value chain and contributing to the growth and development of an evolving art economy in Nigeria. The Bank believes that promoting the arts and preserving contemporary culture is essential for our generation and the future generations.

    According to the Bank’s spokesperson, Folake Ani-Mumuney, the lender has through the years influenced the history and growth of the country through the sponsorship of several arts initiatives across diverse cultures. “We intend to promote the arts as a veritable vehicle for interconnection in our nation while we solidify our position as the leading brand in this space through our First@arts initiative,” she said.

     

     

  • FirstBank acheives complaints management ISO certification

    FirstBank acheives complaints management ISO certification

    First Bank of Nigeria Limited has again achieved an international certification on Complaints Management.

    The certification was achieved on the heels of the bank’s drive to improve its management controls and processes that deal with handling customers’ complaints more effectively and efficiently.

    The certification has confirmed its operational efficiency in identifying trends and the underlying root of complaints, as well as prompt resolution of complaints whilst it accentuates the bank’s commitment to delight its stakeholders through a more customer focused approach.

    With the ISO 10002 certification, FirstBank has again become the first institution in Nigeria, to obtain an internationally recognised certification for complaints handling, benchmarked against global best practice.

    The certification was achieved after successfully deploying the service management module of the Customer Relationship Management tool to assist with effective collation, tracking, notification and storage of customer complaints bank wide and a rigorous audit conducted by the British Standard Institute (BSI).

    According to FirstBank’s Group Executive, Technology and Services, Abdullahi Ibrahim, the bank’s attainment of this feat reassures our customers of the Bank’s resilience and continuous improvements in line with global best practices.  Ultimately, this elevates the FirstBank brand, underpinning its commitment towards the resolution of all customer concerns.

    “This is another competitive advantage we have and it would reinforce the confidence of our stakeholders in their relationship with the Bank and this is consistent with our brand promise to always put our customers first and deliver the ultimate gold standard of value and excellence,” he stated.

  • FirstBank unveils Life is a Movie campaign

    First Bank of Nigeria Limited is offering its customers and consumers a unique opportunity to participate in a onetime blockbuster titled: Life is a Movie featuring ‘Customers’ Firsts’.

    In a statement, the bank said it is again living up to its brand promise to put customers first, through a series of consumer experience, exploring the concept of ‘First’ from a customer’s perspective.

    “Moments in our lives play out like scenes from a movie which could fit into the genres of romance, adventure, comedy and definitely drama. Whatever this moment is, FirstBank is requesting you to share this moment with us  so we can begin to see the world from our customers’ point of view,” it said.

    With the ‘Life is a Movie Campaign’, the bank is requesting its customers to share experiences and moments of their ‘First’ activities of interests, such as your first bike ride, first plane ride and other first adventure periods of your lives.

    Customers can take on characteristics they want exemplified in a movie and send video recordings of not more than one minute to the bank.

    The best entries will be pulled together to make the first ever customer focused television commercial in Nigeria . In a statement by the bank’s spokesperson, Folake Ani-Mumuney, FirstBank has chosen its customers to run its new ‘Your  First’ advertising campaign in movie style.

    “Having the faces of our customers used as part of our advertising campaign represents not only what we do for our customers, but what our customers do with us. With this campaign, we want our customers assured that even when life feels like a movie, FirstBank will be  part of the script with lifestyle-fit products and services you need to make sure your life follows the script you planned,”she stated.

    This campaign demonstrates how the bank enables its customers to be first, presenting the different dimensions of Fists and enabling customers claim First in their own lives. Whether it is getting them to do something for the first time, putting them first in line for something special or growing their business to become first in class, customers can show the world what matters to them and FirstBank would work to support them, ensuring that they enjoy the different moments of their lives.

    Having been around for over 120 years, FirstBank has become the trusted and dependable partner throughout the journey of life – experiencing many moments right along with its consumers and thus, playing a major role in the movie of their lives.

     

     

     

  • Adeduntan is FirstBank CEO-designate

    Adeduntan is FirstBank CEO-designate

    A NEW helmsman is set to take over at First Bank.

    Dr. Adesola Adeduntan, the Executive Director/Chief Financial Officer, is Managing Director-designate. He is to succed Mr. Bisi Onasanya, who has given a notice of retirement as Group Managing Director/CEO.

    FBN Holdings, the bank’s parent company, also yesterday, announced Gbenga Shobo, the Executive Director, Lagos & West, as Deputy Managing Director-designate. The appointments, which have been ratified by the Board of Directors, subject to regulatory approvals, take effect on January 1, next year.

    Adeduntan, has expertise in Treasury & Financial Management, Risk Management, Accounting, Corporate Governance and Strategy Development, Advisory and Compliance. Shobo has a banking career spanning over 25 years with experience in Corporate banking, Institutional banking, Commercial banking, Retail banking and Treasury.

    Bello Maccido, pioneer Group CEO, FBN Holdings, is leaving his position to become pioneer Chairman of the newly-licensed FBN Merchant Bank Ltd.

    UK Eke, the bank’s Executive Director, South, is Group Managing Director-designate, FBN Holdings Plc.

    Other changes at FirstBank will see the Chairman, Prince Ajibola Afonja, retire. Mrs. Ibukun Awosika will succeed him.

    A statement from the bank said the appointments followed a rigorous selection driven by the Board and supported by Heidrick & Struggle, the internationally renowned executive search firm.

    The bank said that as pioneer Group CEO of the FBN Holdings Group in very critical times, Bello birthed the process to establish the multi-faceted group to comply with diverse regulatory requirements, navigating through uncharted territory.

    “He will bring his wealth of experience, spanning over 30 years post call to Bar experience as an accomplished Retail, Corporate and Investment banker, to bear in his new role, chairing the Board of the emergent FBN Merchant Bank Ltd. The incoming Group Managing Director, UK has over 30 years’ post experience in financial services, auditing, consulting, taxation, process engineering and capital market operations,” the statement said.

    In announcing the appointments, Dr. Oba Otudeko, (CFR), Group Chairman, FBN Holdings, explained: “Following an exhaustive and competitive process, we are proud to announce these appointments. In reaching these decisions we are mindful of the imperatives for a more efficient group structure that will benefit the Group’s need to deploy systems which deepen efficiency while expanding revenue and returns on investment. We are confident that we have made the right choices in these appointees. In selecting our MD and DMD we were particularly mindful to identify outstanding and topnotch professionals with complementary and mutually reinforcing skill set.”

    “These appointments are a testament to the strength of our succession planning mechanisms and the calibre of candidates it produces. It also re-articulates our commitment to put our customers first with the confidence in the value that this new leadership team brings to bear on behalf of the Group, customers and employees, even as we strive to return greater value to shareholders,” Otudeko said.

  • FirstBank, Lork Enterprise to promote arts, culture

    FirstBank, Lork Enterprise to promote arts, culture

    FirstBank of Nigeria and Lork Enterprise LLP are partnering to support creative arts to boost the tourism industry and the economy.

    The First@arts initiative is aimed at promoting entertainment as a  vehicle for cohesion among families and friends and it demonstrates the bank’s dynamism as a provider of services that meet the needs of its customers.

    Addressing reporters on the initiative, FirstBank’s Head, Marketing & Corporate Communications,   Folake Ani-Mumuney, represented by Bridget Oyefeso Odusami, Head of Sponsorship and Events, said the initiative would provide a platform to drive various arts and theatrical performances, television programmes and explore new avenues to create entertainment and value for its teaming audience across the globe.

    According to her, the bank’s partnership with Lork Enterprise LLP, managers of Freedom Park, British Council and Ebony Life Television, is based on their rich pedigree to deliver credible performances as well as drive arts and culture over the years.

    She explained that Freedom Park and British Council Nigeria have become rallying points for arts and theatre performances in Lagos and Nigeria and have captured the attention of the local and international community, arts-loving Nigerians locally and in the diaspora.

    Ani-Mumuney also said: “FirstBank is, particularly, interested in arts and culture and has established First@arts initiative as a platform dedicated to promoting arts and culture events. The bank has supported several theatrical performances, dance and drama events as well as carnivals under this platform and would through our new partnerships drive further engagements for our esteemed customers, promote creativity and enterprise.”

    She said for many years, the bank has influenced the history of the country through the sponsorship of various arts’ initiatives across diverse cultures and has supported the yearly Calabar festival, Enugu Carnival, Thespian Theatre and the drama and dance group, Umoja from South Africa, among others.

     Chief Executive Officer (CEO) of Lork Enterprise LLP, Theo Lawson, said: “The partnership with FirstBank will change our capacity to engage and promote the bountiful latent talent we regularly come across as well as provide a rich menu of entertainment and experience for our visitors.”

  • FirstBank unveils Loop app for customers’ delight

    FirstBank unveils Loop app for customers’ delight

    Nigeria’s leading lender, FirstBank, said as part of its ongoing commitment to support its customers’ goals, it has introduce Loop, a lifestyle application (app) that delivers premium content from across the world right to its customers’ mobile phones.

    According to the lender, this innovative new service, gives the customers access to the latest articles and videos across a wide variety of categories, including but not limited to tech & gadgets, life & travels, the economy,          local news, luxury goods, business, health, sports, entertainment, shopping and more

    Loop provides our customers with up-to-date information on the latest news and lifestyle trends. Loop ensures that our customers are the first to know about the topics and events that matter most to them.

    Speaking on the initiative with The Nation, an official of Yellow Brick Road, a firm that partnered with the bank on the initiative, Mr. Babajide Ogunnoiki, said application is another way that demonstrates FirstBank’s customer-centric focus, adding that it showed that the lender is an active partner in their fast-paces and constantly evolving lives styles.

    He said users could customise their Loop feed, choosing from a broad range of international and local content providers, including Bloomberg, ESPN, Viacom, Reuters and more. This ensures that customers only receive content that they are interested in which would be relevant to their lifestyle. This is premium content that users would ordinarily have to pay for or subscribe to. We are offering it to our customers absolutely free.

    “Loop sits right on your phone, giving you one-touch access to a world of information, entertainment and lifestyle content. Simple to download and easy to navigate, the app brings all the content the user wants in one place. Loop is currently available on the Android platform and can be downloaded from the Google Play store. It will be available on all mobile platforms in the near future.

    “Loop will also give our customers access to special offers and discounts from a broad range of travel, hospitality, retail and lifestyle partners. The app delivers great deals along with great content,” FirstBank explained.