Group Strategy
Context
At the Group level, FirstBank has undergone a detailed strategic planning process to redefine overall aspirations and realign strategy with long-term goals.
As an outcome of this exercise, the following key decisions were made:
- Business line expansion: Refocus the Group and build critical mass in strong growth businesses while continuing to focus on strong profitable growth and expansion of the core banking franchise.
- International expansion: Expand internationally into a few priority SSA markets while continuing modest expansion in the deployment of international representative offices to major strategic finance/trade hubs.
- Restructuring for growth: Restructure the FirstBank Group such that the Group's operating structure optimally enables its strategy, while ensuring that the right level of management oversight and governance for each unit exists.
- Sequencing growth systematically: Sequence growth objectives in an intelligent, structured manner over the planning horizon, to ensure that the right priority is given to the right initiatives at the right time.
