FirstBank, Nigeria’s premier monetary establishment and monetary inclusion companies supplier, was introduced because the Finest Company Financial institution on the current prestigious Euromoney Awards for Excellence, Nigeria 2023.
The Financial institution clinched the coveted award primarily based on its 130-year dedication to enabling its company clients obtain success by way of related and tailor-made monetary options. FirstBank’s steady funding in expertise has been essential to its main business position in optimally assembly the wants of its company clients. Latest investments in expertise embrace the event of its good and interactive Transaction Banking Platform generally known as FirstDirect2.0.
FirstDirect2.0 offers a one-stop store on-line banking platform for corporates, providing best-in-class capabilities resembling Funds, Collections, and Account Providers, and a domestically targeted phased implementation of Commerce and Provide Chain Finance – a primary for the Financial institution.
The platform affords clients numerous options for company money administration (Funds, Collections and Liquidity Administration). It can additionally ship end-to-end commerce options for company purchasers overlaying L/C creation, monitoring, bidding and reconciliations.
The Financial institution’s Company Banking mannequin is targeted on guaranteeing that its purchasers get the identical high quality of service throughout the Financial institution’s geographical areas. The execution of this method by way of the deployment of the International Account Administration (GAM) Framework, applied to boost cross-relationship administration tailor-made to Clients with a Pan African footprint.
Dedicating the awards to its clients, Dr Adesola Adeduntan, CEO FirstBank Group mentioned: “We’re thrilled to announce that we now have been recognised because the Finest Company Financial institution in Nigeria on the Euromoney Awards for Excellence 2023.
“We are saying a heartfelt thanks to all our unbelievable clients for trusting us. This award is devoted to YOU,” he concluded.
In accordance with Euromoney, the “Awards for Excellence” – is the definitive annual awards programme of the worldwide banking business. The awards symbolize the very best distinction to the banks and bankers who matter most in an business the place differentiation is extremely wanted and exceptionally troublesome to exhibit.”
“For over 30 years, Euromoney has recognised the banks and which have demonstrated their differentiation, pioneering a complete awards programme that right now stays the business benchmark globally, it concluded.”
Amongst different awards, FirstBank lately added to its awards kitty, Finest Company Financial institution Western Africa, 2023, by International Banking and Finance; Finest Web Banking in Nigeria, 2023 by Worldwide Enterprise Awards; the Most Progressive Banking Model in Nigeria by International Manufacturers Awards in addition to the Monetary Establishment of the Yr 2023 by Afreximbank Pan-African Enterprise and Improvement.
First Financial institution of Nigeria Restricted (FirstBank) is the premier Financial institution in West Africa and the main monetary inclusion companies supplier in Nigeria for 130 years.
With over 800 enterprise areas and over 232,000 Banking Brokers unfold throughout 99% of the 774 Native Authorities Areas in Nigeria, FirstBank offers a complete vary of retail and Company monetary companies to serve its over 42 million Clients. The Financial institution has a global presence with subsidiaries working in 9 different international locations. These subsidiaries are FirstBank (UK) Restricted in London and Paris, FirstBank within the Democratic Republic of Congo, Guinea, Sierra Leone, The Gambia; FBNBank in Ghana and Senegal in addition to a Consultant Workplace in Beijing, China. The Financial institution is on the forefront of selling digital banking within the nation and has issued over 13 million playing cards, the primary financial institution to realize such a milestone.
FirstBank has continued to make important investments in expertise, innovation and transformation, and its cashless transaction drive has been steadily accentuated with over 23 million lively FirstBank clients signed up on digital channels together with the USSD Fast Banking service by way of the nationally famend *894# Banking code.
FirstBank’s dedication to Range is proven in its insurance policies, partnerships and initiatives, resembling its staff’ ratio of feminine to male (39%:61%); and 32% ladies in administration), in addition to the FirstBank Ladies Community, an initiative that seeks to handle the gender hole and improve the participation of girls in any respect ranges inside the group.
As well as, the Financial institution’s membership of the UN Ladies is an affirmation of a deliberate coverage that’s in line with UN Ladies’s Ladies Empowerment’s Rules – Equal Alternative, Inclusion, and Nondiscrimination.
Since its institution in 1894, FirstBank has persistently constructed relationships with clients specializing in the basics of fine company governance, robust liquidity, optimised danger administration and management. Over time, the Financial institution has led the financing of personal funding in infrastructure growth within the Nigerian economic system by taking part in key roles within the Federal Authorities’s privatisation and commercialisation schemes. With its international attain, FirstBank offers potential traders Buyers wishing to discover the huge enterprise alternatives accessible in Nigeria an internationally aggressive world-class model and a reputable monetary associate.
For six consecutive years (2011 – 2016), FirstBank was named “Most Priceless Financial institution Model in Nigeria” by the globally famend The Banker Journal of the Monetary Instances Group and “Finest Retail Financial institution in Nigeria” eight instances in a row, 2011 – 2018, by the Asian Banker Worldwide Excellence in Retail Monetary Providers Awards.
Notably, in 2022, the Financial institution took an extended stride on its development trajectory with the Financial institution’s Viability and Lengthy-Time period Issuer Default Scores upgraded to ‘B’ from ‘B-‘ (with Outlooks Secure) by Fitch, a number one international score company. This is a sign of the Financial institution’s robust inner capital technology and the corresponding recession of its dangers to capitalisation. Fitch additionally upgraded the Financial institution’s Nationwide Lengthy-Time period Scores to ‘A (nga)’ from ‘BBB (nga)’, to mirror its improved creditworthiness relative to that of different issuers in Nigeria. Moreover, the Prime 100 African Financial institution Rankings 2022 launched by The Banker Journal revealed FirstBank’s rating as primary in Nigeria by way of Total Efficiency, Profitability, Effectivity and Return on Danger.
Different laudable feats in 2022 embrace FirstBank’s worldwide recognition on main indices by Euromoney Market Leaders, an unbiased international evaluation of the main monetary service suppliers the place FirstBank was topped:
Market Chief: (tier-1 recognition) in Company and Social Duty (CSR),
Market Chief: (tier -1 recognition) Environmental, Social and Governance (ESG),
Extremely Regarded: in Company Banking and Digital Options,
Notable: in SME Banking.
Additionally, in 2022 Worldwide Finance Journal named the Financial institution “Most Progressive Banking Product in Nigeria” and “Finest Retail Financial institution in Nigeria”. FirstBank was additionally awarded “Finest Company Banking Western Africa, 2022” and “Finest CSR Financial institution Western Africa, 2022’’ by International Banking and Finance Journal. Different notable awards in FirstBank coffers embrace: “Finest Financial institution in Nigeria” by International Finance Journal – fifteen instances in a row; “Finest Non-public Financial institution in Nigeria-2021” awarded by International Finance journal; “Finest Web Banking Nigeria” and ‘’Finest CSR Financial institution Africa’’ by Worldwide Enterprise Journal.
In 2023, FirstBank acquired notable awards together with “Finest Non-public Financial institution for Sustainable Investing in Africa 2023” by International Finance Awards; “Finest Sustainable Financial institution in Nigeria 2023” by Worldwide Buyers Awards; “Finest Bespoke Banking Providers in Nigeria 2023” by Worldwide Buyers Awards; “Finest Monetary Inclusion Service Supplier in Nigeria 2023” by Digital Banker Africa; and “African Financial institution of the Yr” by African Management Journal.
Our imaginative and prescient is ‘To be Africa’s Financial institution of first alternative’ and our mission is ‘To stay true to our identify by offering the perfect monetary companies attainable’. This dedication is anchored on our core values of EPIC – Entrepreneurship, Professionalism, Innovation and Buyer-Centricity. Our strategic ambition is ‘To ship accelerated development in profitability by way of customer-led innovation and disciplined execution’ and our model promise is all the time to ship the last word “gold normal” of worth and excellence to place You First in each respect.
Group Head, Advertising & Company Communications
First Financial institution of Nigeria Restricted