Tag: FirstBank

  • FirstBank, Digital Africa Consult host exhibition

    irstBank of Nigeria Limited, has partnered with Digital Africa Global Consult Limited to host the third Digital Africa Conference and Exhibition.

    The event with the theme: “Expanding Africa’s capacity for digital technology” will start in Abuja tomorrow and end on Thursday.

    The Digital Africa Conference & Exhibition, the third, is a gathering of renowned ICT experts to discuss the development of Africa’s ICT sector and proffer solutions to the challenges limiting the continent’s advancement to the point of digital singularity with the rest of the globe.

    The deliberations at event will also address a broad range of topics aimed at broadening Africa’s IT capability.

    In its third edition, Digital Africa reaches out to global markets, connects the industry and enables the digital technology innovations to grow and thrive. The conference also attracts senior-level executives, key decision-makers who are all looking to develop new business partnerships to do business and exchange ideas.

    The Group Executive, Technology & Services, FirstBank, Mr. Abdullahi Ibrahim, FirstBank is committed to driving innovations in technology which have enhanced its products and services. “It is our hope that the third Digital Africa Conference and Exhibition 2015 will throw up new ways of thinking and innovation in banking that will help financial institutions in the country to capture the market,” he added.

     

  • FirstBank, PayPal partner on summer travels

    FirstBank of Nigeria is banking on its new partnership with PayPal to make life easier for its customers who will travel during this summer.

    The bank hopes that the travellers through it can pay and get paid globally and seamlessly.

    “Now we finally have an online payment solution accepted all over the world, courtesy of a new strategic partnership between First Bank of Nigeria and PayPal,” the bank said.

    Banking on PayPal’s over 148 million accounts in 26 currencies spread over 203 markets around the world and its strategic advantage in Nigeria as a leading Nigerian commercial bank with over 750 branches across Nigeria with cards accepted in over 200 countries and on millions of POS terminals and ATMs around the world, the brand managers of the bank believe “the arrival of PayPal in Nigeria allows PayPal connect Nigerians to merchants from Asia, North America, Europe and beyond. So, finally, we can do online transactions on almost every site (since PayPal is a popular global online payment platform anyway), however, PayPal accounts have a transaction limit of about $250 until the account is verified. This is where FirstBank comes in!”

    The Chief Executive Officer,  FirstBank, Bisi Onasanya, said at the launch of the Paypal e-commerce Payment Solution, that the bank is driven by the quest to provide the best financial services possible to its customers. He is optimistic that this venture with Paypal would make far-reaching impact on the lives of the bank’s customers in particular and the entire people of Nigeria in general.

    According to him, it is necessary at this time of accelerating e-commerce evolution in Nigeria and it is equally noteworthy, that it is in sync with FirstBank’s enhanced service solutions for its SME, e-business, mobile banking and online banking customers.

    “First Bank is celebrating 120 years of doing business in Nigeria,” explained Onasanya. “Ours has been a continuously exciting journey highlighted by a remarkable and enduring legacy of unparalleled development and sustainability. We are indeed proud to have built a heritage brand easily recognisable for its dependability, dynamism, stability, longevity and innovation.”

    He also explained that FirstBank has established diverse operations in the financial services industry, with over 750 widespread service outlets, enabling its emergence as the foremost financial services provider in Nigeria.

    “I am, especially, delighted that our subsidiaries, within and outside the country, are making enormous contributions to the growth and development of their national economies, to the delight of all our stakeholders.

    “In expanding our scope in the e-commerce and money transfer subsector, we have carefully identified PayPal due to its pedigree and robust success, achieved since inception 12 years ago, as a major consumer-to-consumer remittance company worthy of our partnership,” he said.

    He further said the pedigree of Paypal, one of the world’s leading e-commerce payment platforms, has developed a fast, reliable and secure system, with expansive global operations. In the rapidly globalising world, an e-commerce payment solution requires the energising competitive environment presented by a rapidly growing company like PayPal, with quite impressive growth statistics, enabling its customers to send, receive, and hold funds globally, he added.

    Also, PayPal’s Regional Director for Africa and Israel, Efi Dahan, also said: “Millions of Nigerians already shop on websites in the US, UK or China, but many find their cards are rejected or have concerns about entering their credit card details on the website of a seller based overseas. PayPal is used by hundreds of millions of people around the world to make international payments because PayPal payments are trusted by international retailers and we don’t share your financial details with anyone.

    “This exclusive partnership with FirstBank is a major milestone in PayPal’s Africa growth story and we hope to make more announcements together in the future as our partnership develops,”Dahan said.

     

  • FirstBank unveils FBNBank Guinea

    FirstBank unveils FBNBank Guinea

    First Bank of Nigeria Limited, a subsidiary of FBN Holdings Plc, has unveiled FBNBank Guinea, formerly registered as International Commercial Bank (ICB), Guinea.

    The unveiling, it said in a statement,  comes after the agreement reached by FirstBank and International Commercial Bank Financial Group Holdings Ag (ICBFGH) for the acquisition of a 100 per cent equity interest in ICB Guinea.

    The launch further consolidates FirstBank’s position as the largest corporate and retail banking financial institution in sub-Saharan Africa (excluding South Africa) with presence in Ghana, Gambia, Guinea, Senegal, and Democratic Republic of Congo as well as presence in the UK and Representative Offices in Johannesburg, Abu Dhabi and Beijing.

    The expansion represents FirstBank’s strategic objective to maintain significant market share, expand its pan-African footprint and diversify earnings while delivering value to shareholders.

    FBNBank Guinea is strategically positioned to foster greater collaboration and provide better service for the country’s public and private sector clients, and the general public at large. The Bank leverages FirstBank’s international network, business expertise, which is part of the diversified synergies of the FBN Group to offer innovative, convenient and secure banking services to its customers and better seize the emerging opportunities in the local market.

    Speaking on this development, the GMD/CEO of FirstBank, Bisi Onasanya, said the launch of FBNBank Guinea fulfills one of the critical stages of our ambition to steadily broaden and build a more diverse footprint across Africa. “We are committed to developing a multi-local business model that broadens our geographic revenue base while providing enhanced service delivery to our new customers and equity participation to local investors.”

    The Managing Director, FBNBank Guinea, Akeem Oladele said “Having built value for Nigeria over the last 120 years, FirstBank through FBNBank Guinea is poised to do even more in the Guinean financial market.  FBNBank Guinea will provide customers with a bouquet of banking solutions that make their financial lives more convenient and stress-free whilst providing a delightful service experience”.

    “Given our heritage and market leadership at FBNBank, we are committed to co-creation; to listen and input feedback received from our customers in the development of products and services that are relevant”, Oladele added.

  • FirstBank promotes financial empowerment among women

    FirstBank promotes financial empowerment among women

    First Bank of Nigeria Limited,  has partnered with Genevieve Gatherings 2015 to raise the bar on Women empowerment.

    The event themed ‘Becoming Financially Fearless’ was organised to advance the Nigerian woman’s financial confidence as well as secure their financial future. Mrs. Nimi Akinkugbe, CEO, Bestman Games Limited, Mrs. Funmi Oyetunji, CEO, Abitos Financial Services Limited, Mrs. Arese Ugwu, Head of Wealth Management at Partnership Investment Plc, and Mr. Tonye Cole, Co-Founder and Group Executive Director, Sahara Group were among the speakers at the event.

    Ms Arunma Oteh (former Director General, Securities and Exchange Commission), who chaired the event emphasised the need to become financially fearless, achieve business success and leave a legacy.

    According to the Group Head, Marketing & Corporate Communications, FirstBank, Mrs. Folake Ani-Mumuney, the Bank is committed to initiatives that would encourage women’s participation and contribution to the growth and development of the economy. “We would continuously engage with initiatives that will inspire, mentor and raise a new generation of entrepreneurial women,” she stated.

  • FirstBank introduces USSD tranfers

    FirstBank introduces USSD tranfers

    Firstbank of Nigeria Limited has introduced USSD transfers.

    The bank is offering mobile payment services to the banked and unbanked customers through its Unstructured Supplementary Service Data (USSD) – *894#.

    The USSD is a protocol used by GSM cellular telephones to communicate with the service provider’s computers. The USSD Gateway is based on the ability of the delivery agent or the source to send and receive USSD messages.

    Unlike similar services (SMS and MMS), which are store and forward-based, USSD establishes a real time session between mobile handsets and application handling the service

    FirstBank has improved its USSD “*894#” access channel to become quicker and more robust with the incorporation of various banking services into USSD codes. To transfer money, simply dial *894# and select 1; dial *894# and select 2 to withdraw money, dial *894# and select 3 to make purchase; dial *894# and select 4 to pay bills; dial *894# and select 5 to buy airtime; and dial *894# and select 7 to manage account.

    Group Head, Marketing & Corporate Communications, Mrs. Folake Ani-Mumuney, said the bank would continue to create customer friendly products to dominate the mobile money market, drive financial inclusion, adding that it would enhance banking convenience and security for its customers.

  • FirstBank director advises women entrepreneurs

    FirstBank director advises women entrepreneurs

    A Director of First Bank of Nigeria Limited, Mrs. Ibukun Awosika at the weekend taught women entrepreneurs the skills and knowledge needed to grow their businesses while keeping their homes.

    Speaking during the second in the series workshop for women-led Small and Medium Enterprises (SMEs) organied by FirstBank Sustainability Centre at the Lagos Business School, she said  the lender  promotes empowerment, entrepreneurship and financial inclusion among women through the event.

    She said aside having a good financial statement and cash flow, women-led SMEs can run into trouble when the husband is not carried along. “It is a big challenge where the woman entrepreneur fails to carry her husband along. Make your husband a stakeholder in your business and he will protect your interest,” she said.

    Mrs. Awosika who is the Founder of The Chair Centre Ltd, a market leader in the office furniture and banking security systems industries, said there must be a diplomatic balance between the home and business as none should suffer. “You can make business decisions but don’t lose sight of your home,” she told the participants.

    She encouraged women entrepreneurs to borrow from banks for the running of their businesses, but ensure that the funds are not put into other uses. “Women should be encouraged to borrow but must utilise the funds equitably. The banks want to ensure that the loan is repaid because it is depositors’ funds. Women entrepreneurs should learn how to keep proper records as such will help banks in granting them access to more loans,” she said.

  • FirstBank: Walking on a strange terrain

    FirstBank: Walking on a strange terrain

    Firstbank, a conservative bank, is sponsoring a television campaign, B430 TV series, which addresses the challenges of under 30 women. Analysts say this is novel for an old generation bank. But the bank says as a social cause, the deal is worth its salt, especially as it is within its corporate social responsibility and sustainability, writes ADEDEJI ADEMIGBUJI.

    The television series, B430 (before 30), sponsored by Firstbank, is unique in many ways. It is the first time the conservative bank is  walking on such a terrain.

    The series is centered on four young women – Damilola Adegbite, Beverly Naya, Meg Otanwa, Anee Icha – who live in Lagos.

    To meet social expectation – marriage – the women are under pressure to get married before hitting age 30.

    Though they have good careers, their marital status is giving them headache.

    Each of them either have one complicated relationship or the other. Sometimes, over a bottle of wine, they discussed and mocked each other.

    At a premiere of the series at the Federal Palace Hotel, Victorial Island, Lagos, where the story is also set, the trailer reveals through the lead character Adegbite starring as Temi Coker, 27, a lawyer with voice over. Naya, a consultant but single, who stars as Nkem, plays the sexy career woman who believes men are playthings.

    Otanwa, 28, an house wife, who plays Aisha, is the conflicted northern housewife, married to a billionaire. Icha, 25, a banker who plays Ama, is the sweet and cheerful friend and the youngest in the group.

    The series, produced by Nemsia, a full service marketing, design and content production house, is set against the background of social stigma single ladies who are through with school.

    Against the backdrop of the members of the society who see marriage as important, the pressure faced by single women under 30, could be traumatic, especially when their kiths and kins are getting married.

    At family weddings, as reflected in B430, they face various questions  on their status from family members, such as: “Please, do quick, we are waiting for your invite.”

    But, such expectation put pressures on the women to become desperate and this, in turn, makes most men to fall ‘prey’ for such women. “Men always want to stay away from desperate ladies,” says a social analyst.

    With everyone shying away from starting the conversation of single women who are under 30, getting a sponsorship for the campaign was a hard nut to crack for the producers.

    According to the Director of the series, Omorinsojo Akinnola, these challenges no one wants to talk about despite the problems faced by the victims.

    “No one wants to talk about it, but its real. We have to start the conversation.  As a result, she said so many companies did not want to sponsor the series because of the sensitive nature of the conversation,” she said.

    Analysts said endorsing such story could mean that brands are also stigmatising single women. But the way the story is told might have endeared the campaign to some of the sponsors who took the tough decision to accept the B430 deal.

    “Firstbank, for believing in us and taking a risk backing a show of this nature deserves great appreciation. Visionaries, such as Mrs Ani Mumuney fighting to give young firms like us a chance, not just in film making but in the marketing field, have kept the lights on at Nemsia over the last few years while we worked on making before 30. Airtel for bending over backwards to accommodate our requests within an impossible time frame. Federal Palace Hotel for being the very first brand to see our vision and providing this beautiful canvas for us to express it,”  Akinnola said.

    As strange as it sounds to a brand analyst that a conservative bank,  such as FirstBank, is endorsing such a campaign because of its sensitive nature unlike other social cause marketing, such as Downsyn-drome, an health problem, the bank is bankrolling, the Head of Marketing and Corporate Communications, Folake Ani-Mumuney said:  “We are known for supporting causes and this is a cause because it’s rooted in sincerity, and that is really what as a brand we stand for. If we cannot have an honest conversation among ourselves as a people about the things that drive our economy forward, about our people and their health, and things that ensure that we are a nation of productive people, then we wouldn’t be doing what we should be doing as a company. We are not here just to make money; we are a bank that actually believes in being a nation builder in supporting the nation.”

    Will the sponsorship of B430 enhance the bottom line and build more equity for the bank? “First, it is the conversation, a discussion, and a topic of this particular ‘B430’. It is also around the production; it’s about the business of art, the business of movie making, and it was decided that we want to do it in a standard that is exportable and that will compete anywhere in the world,” she said.

    She said further that Firstbank believes in the art of story-telling to reposition the brand. “If you think about us as Nigerians we grow at story-telling, I think we all love story-telling as Nigerians. First bank also supports small businesses, which was the reason it partnered with Nemsia Studios to produce B430. There was a time the performing arts in Nigeria were at the top of their game. If you remember plays in Ife in those days, true talents rose from there. Firstbank has been around for 120 years. We have always supported the arts, but there has been a renaissance since four years ago so much so that we actually created a sub-brand first in the arts and we have very many reasons for that. Beyond that, again still looking at the business of art, we believe that we can begin to really understand the pipeline and the value chain really better. Look at what is happening now; we have Ebony and Arise TV, which can compete with the biggest channels in the world,” she noted.

    However, the idea to screen this social issue into a TV campaign started with a young independent writer and director living in New York City, Bodunri Sasore. “He inserted himself into the psyche of the average Nigerian woman and was able to find a voice to speak their truths,” said Akinnola.

    She said the idea was further brought to visual reality by the artistic mind of one of the Nemesia partners, Derin Adeyokunnu. Worried that the idea was concieved by men, she said: “At that point, you would wonder how two 30 something men are able to convincingly tell a story about women. Well, that’s where I came in, and not a moment too soon. As a young  lady, these guys gave me a chance to hone my natural ability to be a controlling micro-manager. In fact, they respected it. If only other men felt the same way… I might very well be married before I turn 30,” said Akinnola.

    On the characters, she said the lead actors are simply the best in the business. “And if we have done our job, which we believe we have, you are witnessing the birth of the newest generation of proper movie stars. Damilola, Beverly, Meg and Anee are true talents and you will be hearing their names for a very long time. OC Ukeje, a certified star in his own right, took the project on in its early stages and his many awards are proof that he is a force to be reckoned with. Karibi Fubara, essentially the Nemsia whip. He has stepped far out of his role as actor in a role as friend and trusted co worker. Patrick, Gideon, Kenneth, Aunty Tuby, Patrick Doyle, Zainab.The list is endless. The talent is limitless,” she noted.

  • FirstBank is ‘Best retail bank’

    FirstBank is ‘Best retail bank’

    First Bank of Nigeria Limited has been named The Best Retail Bank in Nigeria for the fourth consecutive time.

    It received the award  at the just concluded Asian Banker International Excellence in Retail Financial Services Awards in Singapore.

    Organised yearly by the Asian Banker magazine, the award is renowned for its rigorous and transparent process in selecting outstanding financial institutions in retail banking.

    According to the Asian Banker, FirstBank has continued to dominate the retail space with over 40 per cent of the market share in retail customer deposits.

    With increased customer and deposit base last year, FirstBank remains the largest retail lender in the country with more than 20 per cent market share in gross loans. The bank also saw a 17 per cent cost-to-income ratio, earning a profit of $752,770 in 2014 with total assets amounting to $7.8 billion.

    FirstBank’s spokesperson and Group Head, Marketing and Corporate Communications, Mrs. Folake Ani-Mumuney, said the award was an indication of the effectiveness of the bank’s various transformation programmes which are aimed at raising the bar in developing and delivering unique retail financial products to all levels of customers.

    She said the lender has a robust retail banking strategy that enables it to review its retail products and processes to ensure that the needs and lifestyles of customers are met.

    “We are delighted that this award and indeed our recent ranking as the Most Valuable Bank Brand in Nigeria is an indication of the recognition of our modest achievements in recent time”, she said.

  • FirstBank sustains brand loyalty with Savings Promo

    FirstBank sustains brand loyalty with Savings Promo

    She has been banking with Firstbank of Nigeria for 28years. She grew up to see her parents banking with the same bank. Mrs. Ebisan Onyema, opened up on her long relationship with the bank penultimate week when its Group Managing Director/Chief Executive Officer Mr Bisi Onasanya, presented a new Toyota Corolla to her as the winner at the final draw of the bank’s Savings Bonanza.

    Her story illuminates the meaning of customer loyalty and how the reward system of a brand can sustain such cult followership.

    At this time of economic downturn, marketing professionals are looking for promotional tools to secure market share in the very competitive climate. They are using promotional incentives.

    “This experience and winning the prize has deepened my loyalty for FirstBank of Nigeria. How I wish other banks can support their customers through this reward system. I have been banking with FirstBank in 28 years. I grew up knowing my father and my mother banked with the bank. So, there is a long connecting point between the bank and I. So, a bank should not expect loyalty when there is no reward system for their loyal customers. I’m excited with this prize,” she said.

    Loyalty marketing is an approach to marketing, based on strategic management, in which a company focuses on growing and retaining existing customers through incentives. Branding, product marketing and loyalty marketing all form part of the customer proposition – the subjective assessment by the customer of whether to purchase a brand or not based on the integrated combination of the value they receive from each of these marketing disciplines.

    While the recent campaign by FirstBank has been predicated on renewed campaign theme, ‘You First,’ especially with the celebration of its 120 years of operation in the Nigerian market, the bank has gone on promo spree to champion financial inclusiveness through its marketing activities in recent times.

    Speaking at the car presentation ceremony, Onasanya noted that the FirstBank Savings Bonanza delivers to the bank’s promise to put the customer first as it is designed to reward customers for their patronage and loyalty to the brand over the years. “FirstBank has been changing the life style of average Nigerians with its Savings Promo since 2008. We would continue to churn out innovative and tailored-fit products to support customers’ needs and aspirations”, he stated.

    “Few months ago, we gave out six bedroom house to winners of our promos. Today, we gave out brand new Toyota Corolla cars to winners of our promo is different locations. Intending customers should go to our branches and open accounts and win lots of prizes,” Onasanya said.

    While this is part of the bank’s continued drive to encourage savings culture in the youth and unbanked segments, the reward system is believed would deepen the bank’s customer base especially as the bank through a draw which took place on March 12, 2015 to produce the winners as promised.

    The promo which kicked off in September 2014 has produced over 1400 winners including 12 winners of brand new Hyundai Elantra and Toyota Corolla cars.

  • FirstBank:  Corporate governance promoter

    FirstBank: Corporate governance promoter

    For more over 12 decades, First Bank of Nigeria Limited (FirstBank) has continued to provide exceptional services to its numerous customers at home and abroad. The lender has broken new ground, acquiring new lenders, and winning accolades for its services in the financial sector, writes ALVIN AFADAMA.

    Banking thrives on quality services and trust. At First Bank of Nigeria Limited (FirstBank), the customer is seen as king, and is treated thus.

    It is therefore not surprising that in its over 120 years in business, the management and staff of FirstBank have strived to give customers the ‘exceptional services’ that have kept and strengthened the business relationship.

    The feedback from stakeholders has equally been exceptional, as they responded with awards and different forms of recognition for the lender. The bank has also continually evolved, changing its brand names severally, but retained the high quality of services that define its brand essence.

    For instance, for the fourth consecutive year, First Bank of Nigeria has been ranked number one banking  brand in Nigeria by The Banker magazine of Financial Times and Brand Finance, London, United Kingdom in their annual 2015 The Top 500 Banking Brands.

    The Country Representative of The Banker magazine – Nigeria, Mr. Kunle Ogedengbe, the lender moves from being number 382 in 2014 to 336 this year. A leapt of 46 places.

    Other Nigerian banks that made the ranking include Zenith Bank, Guaranty Trust Bank and Access Bank. Zenith Bank moves to number 388 from 453 in 2014, Guaranty Trust Bank moves to 417 from 422 while Access Bank made first entry into the ranking.

    Brand value of First Bank increases to $300 million in 2015 from $228 in 2014 representing an increase of 31.57 per cent. The brand value according to the Silvia Pavoni, the Economics editor of the magazine, is “the licensing rate that a third-party would need to pay to use that company’s brand.”

     

    The history

    FirstBank was established in 1894 as the premier Bank in West Africa, and is now Nigeria’s number one bank brand and the leading financial services solutions provider in the country.

    The bank was founded by Sir Alfred Jones, a shipping magnate from Liverpool, England. With its head office originally in Liverpool, it commenced business on a modest scale in Lagos, under the name, Bank of British West Africa (BBWA).

    In 1912, the lender acquired its first competitor, the Bank of Nigeria (previously called Anglo-African Bank) which was established in 1899 by the Royal Niger Company. In 1957, it changed its name from Bank of British West Africa (BBWA) to Bank of West Africa (BWA). Again in 1966, following its merger with Standard Bank, UK, FirstBank adopted the name Standard Bank of West Africa Limited and in 1969 it was incorporated locally as the Standard Bank of Nigeria Limited in line with the Companies Decree of 1968.

    Changes in the name of the Bank also occurred in 1979 and 1991 to First Bank of Nigeria Limited and First Bank of Nigeria Plc, respectively. In 2012, the bank changed its name again to First Bank of Nigeria Limited as part of a restructuring resulting in FBN Holdings Plc (FBN Holdings), having detached its commercial business from other businesses in the FirstBank Group, in compliance with new regulation by the Central Bank of Nigeria (CBN).

    FirstBank had 1.3 million shareholders globally, was quoted on The Nigerian Stock Exchange (NSE), where it was one of the most capitalised companies and also had an unlisted Global Depository Receipt (GDR) programme, all of which were transferred to its Holding Company, FBN Holdings, in December 2012.

    Building on of its solid foundation, the bank has consistently broken new ground in the domestic financial sector for over a century and two decades. FirstBank is present in the United Kingdom and France through its subsidiary, FBN Bank (UK) Limited with branches in London and Paris; and in Johannesburg, Beijing and Abu Dhabi with its Representative Offices there. In October 2011, the lender acquired a new subsidiary, Banque International de Credit (BIC), one of the leading banks in the Democratic Republic of Congo.

    In November 2013, FirstBank acquired ICB in The Gambia, Sierra-Leone, Ghana and Guinea, and in 2014, the Bank acquired ICB in Senegal. These were major landmarks in its plan for growing its sub-Saharan African footprint.

    As the global operating environment evolves, FirstBank has kept pace, responding to the dynamic needs of its customers, investors, regulators, host communities, employees and other stakeholders. Through a balanced approach to plan execution, FirstBank has consolidated its industry leadership by maintaining trans-generational appeal. Thus, the Bank has continuously boosted its customer-base, which cuts across all segments in terms of size, structure and sectors.

    Leveraging experience spanning over a century of dependable services, FirstBank has continued to build relationships and alliances with key sectors of the economy that have served as strategic building blocks for the wellbeing, growth and development of the country. With its huge asset base and expansive branch network, as well as continuous re-invention, FirstBank is Nigeria’s strongest banking franchise, maintaining market leadership on all fronts in the nation’s financial services industry.

     

    Growth strategy

    FirstBank has about 800 business locations in Nigeria that are online, real time, and enjoys one of the largest domestic sales networks in the country. As a market leader in the financial services sector, the elnder pioneered initiatives in international money transfer and electronic banking, serving  more than nine million customer accounts.

    Besides, the lender’s strategy has been focused on restructuring the business to take advantage of growth opportunities within the industry, pursuing business line expansion across strategic business units, continuously implementing a systematic international expansion plan and sequencing its growth initiatives across defined metrics.

     

    Manpower development

    FirstBank’s manpower development policy recognises the invaluable contribution that human resources make to the growth and development of countries successfully navigating from third world to developed country status. Besides, its human capital management initiatives are geared towards providing necessary support to staff, departments, and the various business drivers to enable the Bank achieve its goals and objectives.

    The lender also hires personnel with the unique skill sets needed to fully leverage its operations. Its  succession planning framework ensures perpetual business continuity.

    The long drawn transformation in the Nigerian financial services sector has distinguished it as Nigeria’s strongest financial services group. This is arguably as a result of the Bank’s proactive and far-reaching transformation programme initiated ahead of the turn of the present century. FirstBank was the first quoted company in Nigeria to  achieve the feat of hitting the trillion naira mark in market capitalisation, the clearest evidence of the market’s estimation of its worth.

     

    Corporate governance/ Awards

    A best-fit corporate governance promoter, FirstBank’s corporate governance practice remains at the industry’s leading-edge. This is especially evident in its laudable leadership transition processes, ensuring that there is seamless business continuity and stability in all aspects of the Bank’s businesses. This corporate governance posture has won the Bank much respect and recognition both locally and internationally.

    In its 120 years of uninterrupted operations, FirstBank’s outstanding services have attracted innumerable recognitions and awards. The bank was first listed on The Nigerian Stock Exchange (NSE) in March 1971 and won  the NSE’s Annual President’s Merit Award for the best financial report in the banking industry a record thirteen times. This subsisting feat received additional impetus when the Bank in 2011 was bestowed with the “Best Financial Reporting Company” award by Africa Investor, one of Africa’s most respected multimedia investment news and information publishers.

    In the same period, FirstBank was named the “Most Innovative Bank in Africa” by African Banker Awards. This highly coveted award goes to the African bank that has demonstrated original and practical uses of technology to provide customer convenience, better and cheaper services, and greater access to the financial services industry in Africa.