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First Bank expands African footprint, launches FBN Bank Ghana

By on October 9, 2014

First-Bank-MeetingFollowing the agreement reached by First Bank of Nigeria Limited and International Commercial Bank Financial Group Holdings Ag (ICBFGH) for the acquisition of a 100% equity interest in ICB GHANA, FirstBank today announced the launch of FBN Bank Ghana.

As a result of this acquisition FirstBank has consolidated its position as the largest corporate and retail banking financial institution in sub-Saharan Africa (excluding South Africa). The Transaction delivers against FirstBank’s stated ambition to win significant market share, expand its pan-African footprint and diversify earnings while delivering value to shareholders.

Speaking at the launch in Ghana, MD/CEO of FirstBank, Bisi Onasanya, said:

“The acquisition of ICBGFH assets in Ghana fulfills the first stage of our ambitions to steadily build a broader and 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.”

Commenting further on the launch, CEO, FBNBank Ghana Mr. Seyi Oyefeso said “Having built value for Nigeria over the last 120 years, FBNBank is poised to do even more in the Ghanaian financial markets. FBNBank provides customers with a collection of banking solutions that make their financial lives less cumbersome and stressful.

Also, FBNBank has a history of leading the market with banking solutions that set the pace for other players in the financial landscape. The orientation of FBNBank towards co-creation means it is constantly listening and inputting feedback received from customers in development of products and services that are relevant, Seyi added.

Also speaking, the Head, Marketing and Corporate Communications, Folake Ani-Mumuney enthused; “the refreshed launch of FBNBank 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. Launching the FBNBank Ghana is a major milestone in a wider strategic plan to expand our African footprints and as part of the drive to ensure that the group is more efficient and effective in delivering on the needs of its customers as reflected in our value proposition of placing the highest priority on the needs of our customers.” As embodied by the new pay-off line, ‘You First’