FirstBank of Nigeria Limited has unveiled FBNBank Guinea, formerly registered as International Commercial Bank (ICB), Guinea.
The opening of the subsidiary came on the heels of the agreement reached by FirstBank and International Commercial Bank Financial Group Holdings Ag (ICBFGH) for the acquisition of a 100 per cent equity interest in ICB Guinea.
The launch, according to a statement from the bank, further consolidates FirstBank’s position as one of the largest corporate and retail banking financial institution in sub-Saharan Africa (excluding South Africa) with presence in Ghana, Gambia, Guinea, Senegal, and Democratic Republic of Congo. The bank also has presence in the UK and Representative Offices in Johannesburg, Abu Dhabi and Beijing.
The expansion, it added represents FirstBank’s strategic objective to maintain significant market share, expand its pan-African footprint and diversify earnings while delivering value to shareholders.
FBNBank Guinea 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 FirstBank’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 FirstBank, Bisi Onasanya, said: “The launch of FBNBank Guinea fulfils one of the critical stages of our 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 enhanced service delivery to our new customers and equity participation to local investors.”
Commenting further, the Managing Director, FBNBank Guinea, Akeem Oladele said “Having built value for Nigeria over the last 120 years, FirstBank through FBNBank Guinea is poised to do even more in the Guinean financial market.
“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.”thisday.