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First Bank unveils Gambian subsidiary

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Tiamiyu Saheed Oluwatosin
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calendar-icon Posted on: 2020-05-21 10:17:29
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FIRSTBANK



First Bank of Nigeria Limited, a subsidiary of FBN Holdings Plc, has announced the launch of its subsidiary in the Gambia, formerly registered as International Commercial Bank (ICB).

This follows the agreement reached by FirstBank and International Commercial Bank Financial Group Holdings Ag (ICBFGH) for the acquisition of a 100 per cent equity interest in ICB Gambia.

“The unveiling further consolidates FirstBank’s position as the largest corporate and retail banking financial institution in sub-Saharan Africa with presence in Ghana, Guinea, Sierra Leone and Senegal as well as presence in the UK and Representative Offices in Johannesburg, Abu Dhabi and Beijing.

“The expansion represents FirstBank’s strategic objective to maintain significant market share, expand its pan-African footprint and diversify earnings while delivering value to shareholders.”

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FBNBank Gambia, the statement added, is strategically positioned to foster greater collaboration and provide better service for the country’s public and private sector clients, and the general public at large.

Speaking at the Launch over the weekend, the GMD FirstBank, Bisi Onasanya said, “The launch of FBNBank Gambia is yet another milestone achievement in our ambition to steadily broaden and build a more diverse footprint across Africa.

“We are committed to developing a multi-local business model that broadens our geographic revenue base while providing enhanced service delivery to our new customers and equity participation to local investors.”

Commenting further Ag. Managing Director, FBNBank Gambia, Uloma Kings-Olikagu said “Having built value for Nigeria over the last 120 years, FirstBank through FBNBank Gambia is poised to do even more in the Gambian financial market.

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“FBNBank Gambia will provide customers with a bouquet of banking solutions that make their financial lives more convenient and stress-free whilst providing a delightful banking service experience.

“Given our heritage and market leadership at FirstBank, we are committed to co-creation; to listen and input feedback received from our customers in the development of products and services that are relevant,” Kings-Olikagu added.

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