129-Year-Old First Bank Announces Corporate Name Change of Subsidiaries Across Africa, United Kingdom

• First Bank has announced a change of name across its operations in Africa and the UK
• The bank said the name change would be implemented in phases to align with its core operations
• The new name change affects its operations in Sierra Leon, Gambia, the UK, and the DRC.

Nigeria’s oldest bank, First Bank Nigeria Limited, has announced a phased corporate name change for its subsidiaries in the United Kingdom and Sub-Saharan Africa.

The bank’s Group Head of Marketing and Corporate Communications, Folake Ani-Mumuney, announced the name change in a statement.

Bank's new move to provide brand consistency

According to the statement, the name change aligns with the subsidiaries with the parent brand and enjoys the strong heritage and brand equity built by FirstBank Nigeria in its 129 years of existence and industry leadership.

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Punch reports that the name change affects its operations in several African countries where it has its presence.

The bank named the first set of subsidiaries affecting the name alignment as FBNBank UK, FBNBank Sierra Leone, FBNBank Gambia, and FBNBank DRC.

The banks new names across Africa

Per the statement, the subsidiaries are now addressed as FirstBank UK, FirstBank Sierra Leon, FirstBank Gambia, and FirstBank DRC.

The statement said the next phase of its name change affecting its operations in Ghana, Senegal, and Guinea, would be announced soon.

First Bank said that the name change would enhance the quality-of-service delivery resulting in better brand transparency, uniformity, and character across all markets where it operates.

The Chief Executive Officer of the Bank, Adesola Adeduntan, said the name change coincided with the bank’s 129th anniversary.

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He said:

“It is a milestone reflective of our resolve to continuously provide the gold standard of excellence and value as we put our customers First.

“The new identity of the subsidiaries contributes to an enhanced brand presence.

“It helps our customers and stakeholders better appreciate the value of the diversified product suites, competitive pricing, and extensive business networks the FirstBank Group offers.

Access Bank, others send messages to customers on new interest rate on savings following CBN’s hike

Legit.ng earlier reported following the Central Bank of Nigeria’s (CBN) hike of the Monetary Policy Rate (MPR), Nigerian banks have announced new interest rates on savings accounts.

One of Nigeria’s leading financial institutions, Access Bank, announced in an email to customers that it will reflect the new CBN interest rate on savings accounts "effective immediately."

Also, Zenith Bank, First Bank, FCMB, and Fidelity Bank, among others, announced a new interest rate on savings accounts.

Source: Legit.ng