FirstBank increases African presence, 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.
This unveiling is coming on the heels of the agreement reached by FirstBank and International Commercial Bank Financial Group Holdings Ag (ICBFGH) for the acquisition of a 100 per cent equity stake in ICB Guinea.
The development has further consolidated 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.
It also has presence in the UK and Representative Offices in Johannesburg, Abu Dhabi and Beijing. A statement from the bank explained that 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.”
The statement pointed out that “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 Group Managing Director/Chief Executive Officer 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.”
Commenting further, 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.”
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