Corporate Profile – Commercial Banking
The Commercial Banking group is led by First Bank of Nigeria Limited (FirstBank), which has operations in 12 countries. FirstBank is the largest banking group by assets in Sub-Saharan Africa (SSA) excluding South Africa (i.e. ‘middle Africa’), offering banking services to a rich network of both individual customers and businesses.
FirstBank represents the main legal entity and previously played an operating holding company function before the implementation of HoldCo. Other entities under FirstBank include FBN Bank (UK) Ltd – a fully licensed bank in the United Kingdom with offices in Paris; FBNBank DRC – a leading tier 2 bank headquartered in the Democratic Republic of Congo (DRC), acquired in 2011, FBNBank the Gambia, FBNBank Ghana, FBNBank Guinea, FBNBank Sierra Leone acquired in 2013, and FBNBank Senegal acquired in 2014.
These recent acquisitions are major landmarks in FirstBank’s plan for growing its sub-Saharan African footprint. Other subsidiaries include First Pension Custodian Ltd (First Pension), providing pension fund custody services, and FBN Mortgages, a primary mortgage institution.
The Bank also has a network of representative offices in Abu Dhabi, Beijing and Johannesburg set up to capture trade-related businesses between respective geographies. The Nigerian banking business operates nationally and internationally, with active customer account base of over 9 million served through a large distribution network consisting of over 790 business locations, and more than 7.5 million cards in issue.
The Bank is a Universal Bank providing a comprehensive solutions that meets customer’s requirements through Advisory Services, Trade Finance, Retail and Corporate Banking. The Bank has tied up with World class banks such as FBN Bank UK – Paris Branch and Deutsche Bank (Frankfort and New York) to provide Trade Finance and remittance facilities to its customers.
|Overdraft Line – Consumer||• Credit Agreement given by the bank that allows the customer concerned when needed to make payments on its current account although account balance is not sufficient.
• Permission to make current account negative is limited up to a fixed amount over a period.
|Overdraft Line – Corporate||Credit Agreement given by the bank that allows the customer concerned when needed to make payments on its current account although the account balance is not sufficient.|
|Personal Loan||This type of financing meets all kinds of needs: travel, home furnishings, etc. and requires no purchase justification.
It is backed systematically with death and disability insurance covering at least the amount borrowed.
|Vehicle Loan||This type of financing meets a need of acquiring a vehicle for a customer. It requires proof of purchase. It is backed systematically with death and disability insurance and comprehensive vehicle insurance covering at least the amount borrowed.|
|Housing Loan||Credit for the acquisition or construction project (land / housing), developing or carrying out extensions.
The loan amount depends on the project, the personal contribution and repayment ability.
|Investment Loan||Loan to launch an investment program to develop the activity, finance projects, assets and increase production capacity or create a new business acquisition.|
|Current Account||Essential contractual support that formalizes the relationship between the client and ICB|
|Savings Account (simple, smart or super saving)||• Account earns interest and available for use; Withdrawals and deposits are free on this account and there is no timeframe for savings made|
|Savings Account – EDUCATION PLAN||• Special account earns interest but unavailable for daily use;
• Savings timeframe is at least 3 years, and no withdrawal is possible during the 3 years
|Savings Account – HOUSING PLAN||• Special account paid, unavailable for daily use;
• Savings timeframe is at least 5 years, and no withdrawal possible during the 5 years
|Savings account – RETIREMENT PLAN||• Account unpaid and unavailable until retirement or else face penalties.
• Allows the holder to acquire capital to receive retirement funds as a capital plus interest or as an annuity capital.
• This account can be backed by additional benefits (life insurance – absolute and final disability) to qualify for an additional capital in the event of a disaster.
|Fixed Deposit Account||• A cash placement which pays a fixed rate for a period agreed with the customer. Deposit can be made all at once or gradually.
• No withdrawal is possible pre-term otherwise penalty are calculated over prepayments.
|Credit documents – IMPORT||Bank facility granted to clients for the importation of goods.
Commitment given by ICB on behalf of his client importer (applicant) to pay suppliers based outside of Senegal (beneficiary) to pay the value of a bill or invoice provided that the terms and conditions in the letter of credit are met.
|Credit documents – EXPORT||Commitment given by our client’s bank’s partner, to pay to our client based in Senegal (exporting) the value of a bill or invoice provided that the terms and conditions of the letter of credit are met.|
|Document collection||Agreement between our client and his partner providing that goods are shipped and documents or drafts are sent by the seller’s bank with instructions for collection with its correspondents in the city where the Buyer is located.|
|Bank Guaranty||• Bid bond: It allows participation in a tender and guarantees the seriousness of the offer.
• Advance Payments: It can be requested by the client when a company benefits from progress payments or advances as collateral for repayment in case the bid would not be executed.
• Performance bond: It allows the client to have the funds necessary to complete the contract in the event of business failure.
• Deposit holdback: The holdback may be replaced by a bank guarantee if the client agrees.
- Omar DIOUM – Administrateur Directeur Général
- Yusuf.A.AFINNI – Directeur des Technologies et Services
- Ben O. EPUNDU– Directeur du Risque
- Segun S. ELEBIOMAYO– Directeur Financier
- Coumba Betty SAMBE– Secrétaire Générale
- Madeleine DIAGNE– Directrice de la Gestion du risque de Crédit
- Bruno NDIAYE– Directeur de la Conformité
- Kehinde B. KOLADE– Directeur du Développement Commercial
- Adeyinka A. ADEFOKUN– Coordinateur des Opérations
- Aminata Fam SAMBE– Directrice des Services Bancaires
- Charles HYDE– Directeur de la Trésorerie
- Faty SAMB– Directrice du Recouvrement
- Ngone KONATE– Directrice des Services Généraux
- Mr. Aderemi Muyinudeen Makanjuola – Président
- Mr. Nsikak Titus Ekure – Administrateur Non-Exécutif
- Mrs. Bashirat Odunewu – Administrateur Non-Exécutif
- Mr. Patrick Iyamabo – Administrateur Non-Exécutif
- Mr. Omar Dioum – Administrateur Directeur Général
|BRANCHES||Phone: +221 33 859 80 10|
|ALMADIES (HEAD OFFICE)||Zone 15 rond-point Ngor Almadies|
|REPUBLIQUE||18, avenue de la République|
|MERMOZ||Lot 2 Mermoz Pyrotechnies|
|THIAROYE SUR MER||Km 12.400 route de Rufisque en face de la poste|
|HLM OUAGOU NIAYES||Hlm Ouagou Niayes , n°224|
|TOUBA||Touba Khaira, route de la Grande Mosquée de Touba|