First Bank of Nigeria Limited was the first quoted company in Nigeria to achieve the feat of hitting the trillion-naira mark in market capitalisation, the clearest evidence of the market’s estimation of its worth.
First Bank has enjoyed organisational transformation, especially as it is driven by traditional metrics. With a rich history sprawling back to 1894, First Bank under the leadership of Adesola Adedutan is reinventing itself and taking on its biggest disruptors—fintechs and telcos by adopting innovative technologies as well as introducing more customer-oriented and digital experiences to its customers.
Adesola Adeduntan is an accomplished professional with distinctive domestic and international experience in commercial and investment banking, development finance, audit, and consulting; a philanthropist and leader with a keen interest in providing platforms for the development of other young leaders.
The tier one bank ranked 2nd in the Nigerian Consumer Digital Banking Satisfaction Index by Agusto & Co, won Best Banking Brand, Nigeria Award by Global Brand, and was awarded Investment Bank of the Year 2022 in Nigeria by BusinessDay.
Established in 1894, FBN is the premier Bank in West Africa, Nigeria’s number one bank brand and the leading financial services solutions provider in Nigeria. Since its establishment in 1894, the bank has consistently played a pioneering role in driving socio-economic growth and innovation, introducing to its customers that it puts at the heart of its business, innovative products, services and initiatives hitherto unknown in Nigeria’s banking industry, such as the automated teller machine (ATM) and agency banking.
The bank has been in existence for over 128 years, receiving awards and recognitions to show for its commitments and accomplishments in banking. The Bank’s corporate philanthropy, socio-economic development, support to businesses and commercial activities, is showing no signs of stopping or slowing down.
Unlike some other financial institutions, in the first five months of this year, First Bank of Nigeria Limited has been in the news for all the right reasons and the recognitions and awards have been pouring in, literally.
FirstBank’s trove of trophies was further boosted by awards that recognised its pole position in Nigeria’s financial services sector and the strides it was making in terms of digital transformation, customer service, corporate banking and corporate social responsibility (CSR).
First Bank last year, partnered with Junior Achievement Nigeria to implement the 22nd National Company of the Year (NCOY) competition.
The goal of the Junior Achievement Company Programme is to inspire senior secondary school students to start and run their businesses, develop a product or service and market their brand. With the support of seasoned volunteers, students come together to form a company, choose a business name and elect company officers to oversee the operations of the company for the program duration.
The activities help them hone some in-demand skills like creativity, accountability, teamwork, leadership, problem-solving, critical thinking and public speaking needed to succeed in this competition and thrive globally. In the end, the student companies present the results of their enterprise before a panel of judges.
The bank has experienced further improved performance in its financial results, with its profit after tax amounting to billions. Last year, FBN reported the highest half-year profit reported by the bank in 11 years.
Olamide Adeniji is a member of the editorial team of TheScript Newspaper
