First Bank of Nigeria Limited history, company profile (overview) and corporate video
First Bank of Nigeria Limited is a multinational bank and financial services company headquartered in Lagos, Nigeria. It is the premier bank in West Africa and one of Nigeria’s most valuable banking brands.
The Bank engages in the business of commercial banking. Its subsidiaries focus on international commercial banking, trusteeship, capital markets, pension fund custodianship, mortgage financing, insurance brokerage, management of SMIEIS fund investments, small-scale banking, and bureau de change activities.
HISTORY
First Bank of Nigeria was founded in 1894 founded by Sir Alfred Jones, a shipping magnate from Liverpool, England. Headquartered originally in Liverpool, England, the Bank commenced business as Bank of British West Africa (BBWA) in Lagos, Nigeria.
In 1912, the Bank acquired its first competitor, the Bank of Nigeria (previously called Anglo-African Bank). The Bank of Nigeria was established in 1899 by the Royal Niger Company.
In 1957, Bank of British West Africa (BBWA) changed its name to Bank of West Africa (BWA).
In 1966, following its merger with Standard Bank, UK, the Bank adopted the name Standard Bank of West Africa Limited.
In 1969, the Bank was incorporated locally as the Standard Bank of Nigeria Limited in line with the Companies Decree of 1968.
In 1979, the Bank changed its name to First Bank of Nigeria Limited.
In 1991, the Bank changed its name to First Bank of Nigeria Plc after being listed on The Nigerian Stock Exchange.
In 2011, the Bank acquired Banque International de Credit (BIC), one of the leading banks in the Democratic Republic of Congo (now known as FirstBank DRC).
In 2012, the Bank changed its name again to FirstBank of Nigeria Limited as part of a restructuring resulting in FBN Holdings Plc, having detached its commercial business from other businesses in the FirstBank Group, in compliance with the new regulation by the Central Bank of Nigeria (CBN).
In 2013, the Bank acquired ICB in The Gambia, Sierra Leone, Ghana, and Guinea.
In 2014, the Bank acquired ICB in Senegal.
FirstBank is also present in the U.K. and France through its subsidiary, FirstBank (UK) Limited, with branches in London and Paris; and in China, with its Representative Offices in Beijing.
SUBSIDIARIES
- FBN Bank China;
- FBN Bank DRC;
- FBN Bank Gambia;
- FBN Bank Ghana;
- FBN Bank Guinea;
- FBN Bank Senegal;
- FBN Bank Sierra Leone;
- FBN Bank UK.
*Information from Wikipedia.org and www.firstbanknigeria.com.
**Video published on YouTube by “firstbankngr“