March 31, 2023

First Bank changes name of UK, African subsidiaries

FirstBank pays N56bn to Firstmonie agents as commission in 4 years

By Yinka Kolawole

FIRST Bank of Nigeria Limited has announced a phased corporate name change of its subsidiaries in the United Kingdom and sub-Saharan Africa. 

In a statement, the nation’s premier financial services institution noted that FBNBank UK, FBNBank Sierra Leone, FBNBank Gambia and FBNBank DRC are now to be addressed as FirstBank UK, FirstBank Sierra Leone, FirstBank Gambia and FirstBank DRC, being the first set of subsidiaries effecting the name alignment. 

The statement added that the bank’s subsidiaries in Ghana, Senegal and Guinea will be next in the phased name change implementation.

“The name change is being implemented to align the subsidiaries with the parent brand and to enjoy the strong heritage and brand equity built by FirstBank Nigeria in its 129 years of banking leadership. This will further enhance the quality-of-service delivery resulting in better brand clarity, uniformity and consistency across all the markets where the bank operates,” the bank stated.

Speaking on the name change, Dr. Adesola Adeduntan, CEO of FirstBank Group, said: “The name change which coincides with FirstBank’s 129th founding anniversary (March 31st, 2023) is indeed a milestone reflective of our resolve to continuously provide the gold standard of excellence and value as we put our customers first.  

“The new identity of the subsidiaries contributes to an enhanced brand presence. It helps our customers and stakeholders better appreciate the value of the diversified products suites, competitive pricing and extensive business networks the FirstBank Group offers.”

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