First Bank of Nigeria, most commonly called First Bank, is a Nigerian multinational bank and financial services company. It is the country’s largest bank by assets and gross earnings. With more than 10 million customer accounts, First Bank has over 750 branches providing a comprehensive range of retail and corporate financial services
The Bank has international presence through its subsidiaries, FBN Bank (UK) Limited in London and Paris, FBNBank DRC, FBNBank Ghana, FBNBank Gambia, FBNBank Guinea, FBNBank Sierra-Leone and FBNBank Senegal, as well as its Representative Offices in Johannesburg, Beijing and Abu Dhabi.
Since its establishment in 1894, the Bank has consistently built relationships with customers focusing on the fundamentals of good corporate governance, strong liquidity, risk management and leadership. Over the years, the Bank has led the financing of private investment in infrastructure development in the Nigerian economy by playing key roles in the Federal Government’s privatisation and commercialisation schemes. With its global reach, FirstBank provides prospective investors wishing to explore the vast business opportunities that are available in Nigeria, an internationally competitive world-class brand and a credible financial partner.
The Bank has taken effective measures to mitigate risks associated with financial transactions in all ramifications. In this vein, FirstBank is the first institution in Nigeria to achieve globally acclaimed certifications in ISO27001 Information Security Management Systems, ISO38500 IT Governance and BS25999 Business Continuity Management Systems; proof that customers can absolutely trust transactions on all its platforms.
First Bank Group moved into its second century of operations, on April 27 2004, with the unveiled of a new corporate identity. Entering into a sophisticated and dynamic era in the life of FirstBank, the brand seeks to draw from its history of being one of Nigeria’s biggest and most prosperous financial services group and streamlining with new age processes, technology and most importantly, group mindset.
After the economic meltdown of 2007-2009, the bank re-organized itself into four business groups under a holding company called FBN Holdings Plc., also referred to as FBN Holdings. The shares of the holding company are listed on the Nigerian Stock Exchange. FBN Holdings Plc is the parent company of all companies in the FirstBank Group. The four business groups of FBN Holdings Plc. Are:
Commercial Banking – includes First Bank of Nigeria and all its commercial banking subsidiaries listed in the previous section.
Investment Banking and Asset Management – includes FBN Capital Limited, FBN Securities Limited, First Funds Limited and First Trustees Nigeria Limited.
Insurance – includes FBN Life Assurance Limited and FBN Insurance Brokers Limited.
Other Financial Services – consists of FBN Microfinance Bank Limited.
The Bank has been named “The Best Bank Brand in Nigeria” four times in a row – 2011, 2012, 2013, 2014 – by the globally renowned “The Banker Magazine” of the Financial Times Group; and “Most Innovative Bank in Africa” in the EMEA Finance African Banking Awards 2014. In 2013, the Bank clinched the “Best Bank in Nigeria” in the Euromoney Awards for Excellence, “Best Bank in West Africa” in the African Banker Awards, “Best Company in Infrastructure” in the Social Enterprise Reports and Awards (SERAs), “Most Innovative Africa Investor SRI 50 Company” in the Africa Investor Index Series Awards. Etc.
First bank has also maintain a consistence listin on the global 500 banks
The year 2014 made it 120years that First bank was established as the Bank for British West Africa. 2014 also saw the Bank refresh its corporate identity,
With the acquisition of a 100% equity interest in ICB Ghana, Sierra Leone, Guinea and Gambia from International Commercial Bank Financial Group Holdings AG (ICBFGH), with 28 branches of which 17 are in Ghana, 5 in Guinea, 4 in Gambia and 2 in Sierra Leone. FirstBank is consolidating its position as one of the largest corporate and retail banking financial institutions in sub-Saharan Africa (excluding South Africa).
