MOSYLOADEDBLOGNEWS
First Bank of Nigeria Limited , the
foremost Nigerian bank , announced the
acquisition of the remaining shares in
FBNBank DRC Limited (FBNBank DRC ),
making it FirstBank ’s wholly owned
Subsidiary .
FirstBank said this follows its initial
investment in FBNBank DRC (formerly
Banque Internationale de Credit) in
2011, when the Bank acquired a 75 per
cent stake in FBNBank DRC .
Following the acquisition , FBNBank DRC
has continued to expand its product
offerings, deepen its customer base, and
is currently ranked amongst the top five
banks serving the Democratic Republic
of Congo (DRC ), a country with a
population of more than 82 million .
Commenting on the acquisition , the
Chief Executive Officer of FirstBank , Dr.
Adesola Adeduntan , was quoted in a
statement: “ This transaction
underscores our belief in Sub- Saharan
Africa’ s growth and our focus on
providing a differentiated banking
experience throughout Africa . This
acquisition further consolidates our
already robust African footprint and
positions FirstBank to take advantage of
emerging opportunities in DRC and the
sub- region . This increased investment
by FirstBank in FBNBank DRC – the 3 rd
largest banking entity in the Group, will
surely accrete value for shareholders .”
In his remark , the CEO , FBNBank DRC ,
Akeem Oladele , said : “ With 100 per cent
holding by FirstBank , FBNBank DRC
now has much greater flexibility to
deliver differentiated propositions by
fully tapping into the resources and
innovative capabilities of FirstBank in 8
countries, on three continents. FBNBank
DRC is also now uniquely positioned to
deepen customer reach , broaden
offerings and accelerate its growth from
top five to top three in DRC .”
The premier Nigerian Bank had
recorded a strong gross revenue growth
of 16 per cent in 2016 , from ₦ 463 billion
in 2015 to ₦ 536 billion in 2016 , despite
the challenging macroeconomic
environment . Similarly , FirstBank
recorded a 10 per cent growth in profit
before tax .
FirstBank provides an array of world-
class financial services to both
corporate and individual customers ,
serving over 12 million customers in
Nigeria, and more than 300 , 000
customers outside the country .
Recently , the Bank was named the first
financial service institution in Nigeria
and the West Africa sub- region to have
issued 10 million cards, making
FirstBank one of only two banks in
Africa to have achieved this feat .
The Bank and its subsidiaries make up
the banking group – with international
presence in DRC , Ghana , Guinea, The
Gambia , Sierra Leone and Senegal, as
well as the United Kingdom and China.
First Pension Custodian Limited , the
non- bank subsidiary of FirstBank , is a
market leading player in the Nigerian
pension industry with assets under
custody of about ₦ 2 . 6 trillion as at
December , 2016 .
POSTED BY ADMIN
About blogger.
0 comments:
Post a Comment