“We Are Excited”: First Bank Announces New Name for Subsidiary, Gives Reasons

“We Are Excited”: First Bank Announces New Name for Subsidiary, Gives Reasons

  • First Bank has announced another name change for its subsidiary in Ghana as it seeks to create a uniform identity
  • The bank has been working on creating brand clarity and consistency across all subsidiaries in recent months
  • First Bank is one of Nigeria's oldest banks, with branches in several countries across Africa and Europe

Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

FBNBank Ghana has announced a name change to FirstBank Ghana to establish a consistent brand identity.

The name change aligns with FirstBank Group, the parent company's push to create a uniform identity built by FirstBank Nigeria in its over 130 years of banking experience.

First Bank changes name in Ghana
First Bank announces name change to create uniform identity globally Photo credit: Patrick Meinhardt
Source: Getty Images

According to a statement, the bank said the decision to rebrand to FirstBank Ghana reflects the bank's dedication to delivering world-class banking services and strengthening its position as a leading financial institution in Ghana.

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Legit.ng understands that FirstBank Group has changed names across its subsidiaries in Africa and Europe, including FirstBank UK, FirstBank Sierra Leone, FirstBank Gambia, FirstBank DRC, and FirstBank Guinea.

First Bank Ghana's name change

Speaking on the new name, FirstBank Group's acting group chief executive officer(CEO), Olusegun Alebiosu, said that the rebranding aligns with the bank's goals and objectives.

He added:

"The name change aligns perfectly with our esteemed brand's 130-year legacy, marking an exciting chapter in our journey as FBNBank Ghana transforms into First Bank Ghana. This transition marks a pivotal milestone in our quest to emerge as the premier international financial services group across Sub-Saharan Africa.
"This shift underscores our unwavering dedication to delivering cutting-edge solutions, unparalleled customer experiences, and fostering socio-economic progress in Ghana and beyond. As part of the FirstBank Group, spanning various markets, we are strategically poised to harness our combined expertise and resources, propelling sustainable growth and delivering value to all stakeholders."

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Also reacting, Victor Yaw Asante, the Managing Director and CEO of First Bank Ghana, said the new name will mark a new chapter for the bank in the country.

He noted:

"We are confident that this name change will enhance our visibility, credibility, and competitiveness in the market, enabling us to better serve our customers and meet their evolving needs. Our commitment remains steadfast in delivering the gold standard of value and excellence to our customers and stakeholders.
"We will persist in placing our customers at the heart of our operations, ensuring the delivery of excellent banking services, fostering financial inclusion, and supporting the growth and prosperity of both our customers and communities."

First Bank Group's other subsidiaries that have transitioned from FBNBank are FirstBank UK, FirstBank Sierra Leone, FirstBank Gambia, FirstBank DRC, and FirstBank Guinea.

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Earlier, Legit.ng reported that Nigerian banks have once again warned customers to be vigilant regarding various fraudsters' methods.

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The latest message is from First Bank of Nigeria, the oldest financial institution in the country.

The combined customer deposits of Nigeria's biggest banks stand at over N15 trillion.

Source: Legit.ng

Dave Ibemere avatar

Dave Ibemere (Senior Business Editor) Dave Ibemere is a senior business editor at Legit.ng. He is a financial journalist with over a decade of experience in print and online media. He also holds a Master's degree from the University of Lagos. He is a member of the African Academy for Open-Source Investigation (AAOSI), the Nigerian Institute of Public Relations and other media think tank groups. He previously worked with The Guardian, BusinessDay, and headed the business desk at Ripples Nigeria. Email: dave.ibemere@corp.legit.ng.

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