Business
First Bank Expands African Footprint, Launches FBN Ghana
Following the agreement
reached by First Bank of Nigeria Limited and International Commercial Bank Group Holdings Ag (ICBFGH) for the acquisition of a 100 per cent equity interest in ICB Ghana, First Bank recently announced the launch of FBN Bank Ghana.
A statement from First Bank explained that as a result of the acquisition, the Nigerian bank has consolidated its position as the largest corporate and retail banking financial institution in sub-shaharan Africa (excluding South Africa).
The statement explained that the transaction delivers against First Bank’s ambition to win significant market share, expand its Pan-African Footprint and diversity earnings while delivering value to shareholders.
At the launch in Ghana, Managing Director/CEO of First Bank, Mr Bisi Onasanya was quoted to have said: The acquisition of ICBGFH assets in Ghana fulfills the first stage of our ambitions to steadily build a broader and more diverse footprints across Africa.
“We are committed to developing a multi local business model that broadens our geographical revenue base while providing enhanced service delivery to our new customers and equity participation to local investors.”
Commenting further on the deal, CEO, FBNBank Ghana, Mr Seyi Oyefeso, noted that having built value for Nigeria over the last 120 years, FBN Bank is poised to do even more in the Ghanaian financial markets.
According to him, FBN Bank provides customers with a collection of banking solutions that make their financial lives less cumbersome and stressful.
Also, FBN Bank has a history of leading the market with banking solutions that set the pace for other players in the financial landscape.
“The orientation of FBN Bank towards creation means it is constantly listening and imputing feedback received from customers in development of products and services that are relevant,” Oyefeso declared.
Also speaking, the Head, Marketing and Corporate Communications, Mr Folake Ani-Mumuney, enthused, “the refreshed launch of FBN Bank embodies our internal values and the direction we are headed in as a group, like the iconic elephant, which signifies strength and resilience, two of the greatest traits to have as an individual, an institution and as a nation.
“Since launch in 1894, the FBN brand has established itself as a brand of strength and dynamism, with the vision to be the leading international financial services group in sub-saharan Africa.
“Our brand is at the heart of the holistic experience we seek to deliver to our stakeholders, an essential part of retaining patronage and the competitive edge that keeps us at the coveted position of market leader,” he said.
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