First Bank of Nigeria Limited, a subsidiary of FBN Holdings Plc and Nigeria’s most valuable bank brand today unveils FBNBank Senegal, formerly registered as International Commercial Bank (ICB).
This unveiling is part of the integration process following the agreement reached by First Bank and International Commercial Bank Financial Group Holdings Ag (ICBFGH) for the acquisition of a 100 percent equity interest in ICB Senegal.
The launch further consolidates First Bank’s position as the largest corporate and retail banking financial institution in sub-Saharan Africa (excluding South Africa) with presence in DR Congo, 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 First Bank’s strategic objective to maintain significant market share, expand its pan-African footprint and diversify earnings while delivering value to shareholders.
FBNBank Senegal 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 First Bank’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 First Bank, Adesola Adeduntan, said, “The unveiling of FBNBank Senegal brand identity aligns with our strategic 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 bespoke financial services solutions across the value chains of our customers with cross-border financing needs.”
Commenting further, the Managing Director, FBNBank Senegal, James Bittaye said “Having built value for Nigeria over the last 120 years, First Bank through FBNBank Senegal is poised to do even more in the Senegalese financial market. FBNBank Senegal 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, Bittaye 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.
First Bank operates an extensive distribution network with over 750 business locations (623 branches, 61 quick service points and 69 cash centers/agencies), over 2,600 ATM’s and over 10 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, FBNBank Gambia, FBNBank Guinea, FBNBank Sierra-Leone and FBNBank Senegal as well as its Representative Offices in Johannesburg, Beijing and Abu Dhabi.
