Audited
The information provided on this page was audited by Deloitte and Pannell Kerr Forster on 31 March 2010.
For further information see the report of the independent joint auditors.
For the period ended 31 December 2009
The Bank, which commenced operations in Nigeria on 31 March 1894 as a branch of Bank of British West Africa Limited (BBWA), was incorporated as a private limited liability company in Nigeria in 1969. It was converted to a public company in 1970. The Bank's shares are quoted on the Nigerian Stock Exchange.
The Bank engages in the business of commercial banking whilst its subsidiaries, FBN Bank (UK) Limited, First Registrars Nigeria Limited, First Trustees Nigeria Limited, FBN Capital Limited, First Pension Custodian Nigeria Limited, FBN Mortgages Limited, FBN Insurance Brokers Limited, First Funds Limited, FBN Micro Finance Bank Limited and FBN Bureau de Change Limited carry on the business of commercial banking, registrars, trusteeship, capital market, pension fund custodian, mortgage financing, insurance brokerage, management of SMIEIS fund investments, small-scale banking and bureau de change activities respectively.
The Bank has 10 subsidiaries as listed below.
| Name | % |
|---|---|
| FBN Bank (UK) Limited | 100 |
| FBN Capital Limited | 100 |
| First Pension Custodian Nigeria Limited | 100 |
| First Trustees Nigeria Limited | 100 |
| FBN Mortgages Limited | 100 |
| FBN Insurance Brokers Limited | 100 |
| First Registrars Nigeria Limited | 100 |
| FBN Bureau de Change Limited | 100 |
| FBN Microfinance Bank Limited | 100 |
| First Funds Limited | 100 |
