The recent appointment of Femi Otedola as the Board Chairman in its 130th year indicates that the banking giant shows no signs of slowing down or resting on its laurels.
“Like a fine wine, FirstBank has only improved with age, becoming more dynamic, innovative and trusted by the nation. This is a testament to the diligence and devotion of the many great leaders who have steered the bank to success. Under the leadership of the current Chief Executive Officer, Dr Adesola Adeduntan, FirstBank Group has continued to make giants of its customers and other stakeholders, demonstrating that the success stories of its customers remain its own success story”.
March 31st, 2024 marks a significant milestone for FirstBank as it will attain 130 years of operation in Nigeria. From its humble beginnings in 1894 as the Bank of British West Africa, the institution has evolved into a financial behemoth and a formidable force not only in the banking industry but in the nation and beyond.
Throughout its long and illustrious history, FirstBank has played a pivotal role in the economic development of Nigeria. Not only has it served as a monetary and fiscal policy regulator for the entire West African region, but it has also been at the forefront of technological, industrial, and societal advancements across the country.
The banking giant has achieved numerous firsts, demonstrating resilience and support through periods of rapid and radical changes. It has also pioneered and charted the course in the financial industry and the nation.
Over the years, FirstBank has become deeply ingrained in the fabric of the Nigerian nation and its vibrant population of over 220 million people. As a key financial player, the bank has recorded impressive trajectories for decades, experiencing massive growth and expansion in terms of revenue, influence, and technological advancements.
Globally, only a select few institutions can boast a rich and relevant heritage as a member of the over 100-year Club, and FirstBank proudly holds that distinction with the Nigerian people. It serves as a symbol of pride and a beacon of hope for greater exploits from Africa.
Like a fine wine, FirstBank has only improved with age, becoming more dynamic, innovative, and trusted by the nation. This is a testament to the diligence and devotion of the many great leaders who have steered the bank to success. Under the leadership of the current Chief Executive Officer, Dr Adesola Adeduntan, FirstBank Group has continued to make giants of its customers and other stakeholders, demonstrating that the success stories of its customers remain its own success story.
The recent appointment of Femi Otedola as the Board Chairman in its 130th year indicates that the banking giant shows no signs of slowing down or resting on its laurels.
While many smaller banks have collapsed, FirstBank has reinvented itself like the eagle, emerging stronger in terms of financial capacity, corporate governance, liquidity, industry leadership, optimised risk management and visionary roadmaps. The iconic elephant, representing the bank’s brand essence, symbolises its strength, agility, and forward momentum.
The lending giant has acquired enterprise technology capacities and made significant investments in digital infrastructure, reducing brick-and-mortar practices. The bank recognises that its people are its biggest resource and has taken banking to the people, ensuring accessibility and inclusivity.
Strategic recent investments in technology include the development of its smart and interactive Transaction Banking Platform known as FirstDirect2.0 and the introduction of the Humanoid Robot to the banking ecosystem in the country.
Others are its Digital Xperience Centre, currently in Lagos, Ibadan and the nation’s capital, Abuja. FirstBank is the first Nigerian bank to reach the milestone of issuing 10 million ATM cards to its customers, the first among the existing banks to adopt the use of ATMs
