FIRSTBANK, FBN CAPITAL WIN AT EMEA AFRICA BANKING AWARDS
Lagos Nigeria 05 December 2014: FirstBank and FBN Capital Asset Management, the banking and the investment arms of the FBN Holdings Group have emerged the Most Innovative Bank in Africa, and Best Asset Manager in Nigeria respectively at the Africa Banking Awards 2014 organised by EMEA Finance Magazine, which took place on the 4th of December 2014 at the Law Society in London, United Kingdom.
FirstBank was adjudged winner based on its recent innovative partnerships to drive e-commerce evolution in Nigeria. The bank has struck a partnership with online payment company PayPal – the only such project in the country –that allows customers create and run a secure PayPal account directly from the FirstBank online banking platform, FirstOnline . On the other hand, FBN Capital Asset Management was emerged Best Fund Manager as a result of double digit increase of its assets with an impressive 200 per cent growth rate in Assets Under Management (AUM) across mutual funds.
As the asset management division of FBN Capital, a fully owned subsidiary of FBN Holdings, the company was recognised for its impressive performance in the period under review where assets under management experienced a double digit increase. According to EMEA Finance Magazine, “This award is in recognition of the milestones and accomplishments recorded by the company within the review period. What is particularly impressive is the 200% growth rate in Assets under Management (AUM) across the mutual funds.”
Commenting on the awards, the GMD/CEO, FirstBank, Bisi Onasanya stated that FirstBank is delighted to have won so many awards which recognize success on the African Continent. We have an unrivalled number of professionals on the ground in Africa, which means we have a deep and intimate understanding of the needs of our clients, and are able to offer innovative and meaningful solutions as a result. The awards are testament to FirstBank's expertise and highlight the bank's commitment to always put the customers’ first in all its dealings as well as drive home the Bank’s ability to advise clients on the best solutions for their business.
Also speaking, the Managing Director of FBN Capital Asset Management, Mr. Michael Oyebola, said, “We are indeed pleased to have been selected as the recipient of this award which serves not only as a recognition of our efforts, but as a motivation to achieve even greater results in the coming year.” He added that the award is evidence of the skill and expertise which characterizes the personnel within FBN Capital Asset Management and other subsidiaries within the Group.
According to the Managing Director of FBN Capital, Mr. Kayode Akinkugbe, “This is a landmark achievement which demonstrates the hard work of the team in FBN Capital Asset Management. According to him, “One of our core values is excellence, and this shows how much we exemplify our values through the work that we do”.
In a similar development, FirstBank and FBN Insurance have also won awards as Best Private Bank in Nigeria and Best Life Insurance Company for the Nigerian market respectively, courtesy World Finance Magazine.
About FBN Holdings PLC
FBN Holdings PLC. (ISIN: NGFBNH000009) is the most diversified financial services group in Nigeria. The subsidiaries of FBN Holdings offer a broad range of products and services across commercial banking, investment banking and asset management, insurance and microfinance business in 12 countries (Lagos, Nigeria; London, United Kingdom; Paris, France; Johannesburg, South Africa; Beijing, China; Abu Dhabi, UAE; Kinshasa, Democratic Republic of Congo, Accra, Ghana; Banjul, Gambia, Conakry, Guinea, Freetown, Sierra Leone and Dakar, Senegal). The Group, employing over 9,600 staff, has about 9.4 million active customers, through more than 850 business locations and about 2,500 ATMs. The group boasts an excellent corporate governance structure underpinned by strong institutional processes, systems and controls. FBNHoldings Plc. is structured under four business groups, namely: Commercial Banking, Investment Banking and Asset Management, Insurance, and Other Financial Services.
FBN Holdings’ principal subsidiary is First Bank of Nigeria Limited (FirstBank), a commercial bank with operations in 12 countries. Other subsidiaries are FBN Capital, a leading investment banking and asset management company; FBN Insurance Limited, a risk underwriter and FBNMicrofinance Bank, which offers microfinance services. FBN Holdings Plc. was incorporated in Nigeria on 14 October 2010, following the business reorganisation of the First Bank group into a holding company structure. The Company was listed on the Nigerian Stock Exchange under the ‘Other Financial services’ sector on 26 November 2012 and has issued and fully paid-up share capital as 32,632,084,356 ordinary shares of 50 kobo each (₦16,316,042,178). FBNHoldings is owned by about 1.3 million shareholders across the globe and has an unlisted Global Depositary Receipt (GDR) programme.
Visit our website, www.fbnholdings.com for more information.
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