First Bank of Nigeria Limited, a subsidiary of FBN Holdings Plc and Nigeria’s most valuable bank brand today unveils FBNBank Sierra Leone, formerly registered as International Commercial Bank (ICB). This unveiling comes on the heels of the agreement reached by FirstBank and International Commercial Bank Financial Group Holdings Ag (ICBFGH) for the acquisition of a 100% equity interest in ICB Sierra Leone.
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, Guinea, Gambia, Sierra Leone and Senegal 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 Sierra Leone 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 Sierra Leone 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 Ag. Managing Director, FBNBank Sierra Leone, Nelson Akande said “Having built value for Nigeria over the last 120 years, FirstBank through FBNBank Sierra Leone is poised to do even more in the Sierra Leonean financial market. FBNBank Sierra Leone 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, Akande added.
First Bank of Nigeria Limited, a subsidiary of FBN Holdings Plc, is Nigeria’s leading financial services institution by total assets and gross earnings and one of the largest corporate and retail banking financial institutions in sub-Saharan Africa (excluding South Africa). Since its establishment in 1894, the Bank has consistently built relationships with customers focusing on fundamentals of good corporate governance, strong liquidity, risk management and strong capitalization.
FirstBank operates an extensive distribution network with over 750 business locations (623 branches, 61 quick service points and 69 cash centers/agencies), over 2,500 ATM’s and over 9 million customer accounts. The Bank provides a comprehensive range of financial services and has international presence through its subsidiaries, FBN Bank (UK) Limited in London and Paris, FBNBank DR Congo, FBNBank Ghana, International Commercial Bank (ICB) The Gambia, Guinea, Sierra-Leone and Senegal as well as its Representative Offices in Johannesburg, Beijing and Abu Dhabi.
FirstBank is the recipient of many awards. The Bank has been named “The Best Bank Brand in Nigeria” four times in a row – 2011, 2012, 2013, and 2014 – by the globally renowned “The Banker Magazine” of the Financial Times Group. FirstBank’s brand purpose is to always put its stakeholders, customers and partners at the heart of its business, even as it is poised to standardize customer experience and excellence in financial solutions across Sub Saharan Africa, in consonance with its brand vision “To be the partner of first choice in building your future”. The brand promise is to always deliver the ultimate “gold standard” of value and excellence. This commitment is anchored on the FirstBank’s inherent values of passion, partnership and people, to position its customers first in every respect.
For four consecutive years, 2012, 2013, 2014, and 2014 FirstBank was named the “Best Retail Bank in Nigeria” by the Asian Banker International Excellence in Retail Financial Services Awards. Other recent awards include the “Best Bank in Nigeria” in the Euromoney Awards for Excellence, “Best Bank in West Africa” and “Most Innovative Bank in Africa” in the African Banker Awards, “Best Bank in Nigeria” in the EMEA Finance African Banking Awards for the fourth time, “Best Foreign Exchange Services in Africa” in the EMEA Finance Treasury Services Awards, “Best Banking Group in Nigeria” by World Finance Banking Awards, and “Best Financial Reporting Company” by Africa Investor. Signed
Head, Marketing & Corporate Communications