FirstBank Named Best Retail Bank in Nigeria
First Bank of Nigeria Limited, Nigeria’s most valuable bank brand has won “The Best Retail Bank in Nigeria Award” for the fifth time, the “Mobile Payment Product of the Year award” and the “Credit Card Product of the Year award” in the 2016 Asian Banker Retail Services West African Awards which took place in Lagos, last week. Organized by the Asian Banker magazine, the awards programme is renowned for its rigorous and transparent process in selecting outstanding financial institutions in retail banking. It is to recognise competition and innovation in one of the fastest growing and fierce markets with fierce competition.
According to The Asian Banker, FirstBank has continued to dominate the retail space with over 40% of the market share in retail customer deposits. FirstBank’s Naira Credit Card and its mobile wallet payment service – FirstMonie were adjudged as the best in the credit card product of the year and mobile payment product of the year categories respectively.
With the largest footprint in the country in terms of network and product offering, FirstBank provides something for everyone. The Bank is focused on revamping credit products for individuals and small businesses as well as using its mobile banking business to offer banking services to the unbanked population in Nigeria.
While receiving the awards on behalf of the Bank, the Deputy Managing Director, First Bank of Nigeria Limited, Mr. Gbenga Shobo stated that the awards were a testament to the effectiveness of the Bank’s various transformation programmes aimed at raising the bar in developing and delivering unique retail financial products to all levels of customers. “FirstBank has in place a robust retail banking strategy that enables us to review our retail products and processes to ensure that the needs and lifestyles of customers are met. We are relentlessly deepening our retail dominance with the launch of innovative products and services, tailored to suit the changing times and ever growing customer base. Emerging the ‘Best Retail Bank in Nigeria’ for 2016 after a stringent three-month evaluation process is a clear indication of the effectiveness of our retail strategy with regards to sustaining business services and retail financial products which, has helped to position our customers as first at all times” Shobo added.
It will be recalled that FirstBank was recently named the most valuable bank brand in Nigeria for the fifth time in a row and the Bank also completed 100 million transactions on its e-mobile platform in one month.
First Bank of Nigeria Limited, a subsidiary of FBN Holdings Plc, is Nigeria’s leading financial services institution by total assets and gross earnings and one of the largest corporate and retail banking financial institutions in sub-Saharan Africa (excluding South Africa). Since its establishment in 1894, the Bank has consistently built relationships with customers focusing on fundamentals of good corporate governance, strong liquidity, risk management and strong capitalization.
FirstBank operates an extensive distribution network with over 750 business locations (623 branches, 61 quick service points and 69 cash centers/agencies), over 2,600 ATM’s and over 10 million customer accounts. The Bank provides a comprehensive range of financial services and has international presence through its subsidiaries, FBN Bank (UK) Limited in London and Paris, FBNBank DR Congo, FBNBank Ghana, FBNBank Gambia, FBNBank Guinea, FBNBank Sierra-Leone and FBNBank Senegal as well as its Representative Offices in Johannesburg, Beijing and Abu Dhabi.
FirstBank is the recipient of many awards. The Bank has been named “The Most Valuable Bank Brand in Nigeria” five times in a row – 2011, 2012, 2013, 2014 and 2015 – by the globally renowned “The Banker Magazine” of the Financial Times Group. FirstBank’s brand purpose is to always put its stakeholders, customers and partners at the heart of its business, even as it is poised to standardize customer experience and excellence in financial solutions across Sub Saharan Africa, in consonance with its brand vision “To be the partner of first choice in building your future”. The brand promise is to always deliver the ultimate “gold standard” of value and excellence. This commitment is anchored on the FirstBank’s inherent values of passion, partnership and people, to position its customers first in every respect.
For five consecutive years, 2012, 2013, 2014, 2015 and 2016, FirstBank was named the “Best Retail Bank in Nigeria” by the Asian Banker International Excellence in Retail Financial Services Awards. Other recent awards include the “Best Bank in Nigeria” in the Euromoney Awards for Excellence, “Best Bank in West Africa” and “Most Innovative Bank in Africa” in the African Banker Awards, “Best Bank in Nigeria” in the EMEA Finance African Banking Awards for the fourth time, “Best Foreign Exchange Services in Africa” in the EMEA Finance Treasury Services Awards, “Best Banking Group in Nigeria” by World Finance Banking Awards, and “Best Financial Reporting Company” by Africa Investor.
Group Head, Marketing & Corporate Communications