First Bank of Nigeria announces phased corporate name change for UK and Sub-Saharan African subsidiaries

First Bank of Nigeria has revealed that it will be implementing a phased corporate name change of its subsidiaries in both the United Kingdom and Sub-Saharan Africa. The move is aimed at aligning these subsidiaries with the parent brand and leveraging the strong heritage and brand equity that FirstBank Nigeria has built over its 129-year history. The first group of subsidiaries to undergo the name change includes FBNBank UK, FBNBank Sierra Leone, FBNBank Gambia and FBNBank DRC, which will now be known as FirstBank UK, FirstBank Sierra Leone, FirstBank Gambia and FirstBank DRC. The next phase of the implementation will involve subsidiaries in Ghana, Senegal and Guinea.

Dr Adesola Adeduntan, Chief Executive Officer of FirstBank Group, noted that the name change coincided with the bank’s 129th founding anniversary on March 31, 2023. He added that the move was reflective of the bank’s commitment to continuously provide the gold standard of excellence and value while putting customers first. Adeduntan also pointed out that the new identity of the subsidiaries would contribute to an enhanced brand presence, helping customers and stakeholders better appreciate the value of the diversified product suites, competitive pricing and extensive business networks that the FirstBank Group offers. He also stressed the bank’s commitment to boosting cross-border businesses, including trade and investment opportunities that are essential to enhancing trade relations among countries, strengthening the economies of host communities, and reducing poverty.

Folake Ani-Mumuney, Group Head of Marketing and Corporate Communications at FirstBank, noted that the name change would lead to better brand clarity, uniformity and consistency across all markets where the bank operates, thereby enhancing the quality-of-service delivery. The move is part of First Bank of Nigeria's ongoing efforts to consolidate its position as a leading financial institution in Africa, while also expanding its reach beyond the continent.

The financial institution is known for its innovative banking products, digital services and robust corporate governance framework. With a customer-centric approach, First Bank of Nigeria has been at the forefront of promoting financial inclusion, empowering women entrepreneurs, and supporting small and medium-sized enterprises across Africa. The bank has a strong presence in Nigeria, where it has over 750 branches and 100,000 agents, as well as subsidiaries and representative offices in other countries such as the UK, Ghana, Senegal, Guinea, Sierra Leone, Gambia, and DRC.