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First Bank emerges best retail bank in Nigeria


  For the second year running, Nigeria’s Number One Bank Brand, First Bank of Nigeria Limited has emerged the Best Retail Bank in Nigeria for 2012.

At an award ceremony, which was organised in conjunction with Asia’s most prestigious retail banking event, the Excellence in Retail Financial Services 2013 Awards at Westin Chosun, Seoul in South Korea on Thursday, March 21, 2013, First Bank beat other contenders in a three-month evaluation process which was based on a balanced and transparent scorecard that was used to determine the ranking of various retail banks in Nigeria.

According to Chris Kapfer, Director of Research of the Asian Banker, the organisers of the event, First Bank was picked based on its performance as market leader in deposits and retail loans with a huge lead, compared to its competitor.

According to Kapfer, It is the first financial institution in Nigeria to cross the five million mark in issued payment cards, the only bank which is able to issue an ATM card in 15minutes, and its wide reach and good financial performance as well as its strong focus on customer service also aided its ranking as number one.

“First Bank has a large customer base of six million people and a large market share in retail loans and deposits. The Bank grew its retail loans by over 44 percent in 2012, besides its revenue and operating profit. With its wide reach and good financial performance, First Bank of Nigeria stood strong on our balance scorecard”, he said.

First Bank’s spokesperson and Head of Marketing & Corporate Communication, Folake Ani-Mumuney said the Bank is relentlessly deepening its retail dominance with the launch of innovative products and services, tailored to suit the changing times and ever growing customer base.

“Emerging the ‘Best Retail Bank in Nigeria’ for 2012 after a stringent three-month evaluation process, is a clear indication of the effectiveness of our strategy with regards to sustaining business services and retail financial products which, have helped to position our customers as first at all times,” she said.

The award ceremony was witnessed by about 150 senior bankers from 29 countries across the Asia Pacific, the Middle East, Central Asia and Africa. The award programme is administered by The Asian Banker and referred by prominent global bankers, consultants and academics.

It is regarded as the most prestigious of its kind in the region.

First Bank of Nigeria Limited is Nigeria’s leading financial services institution by total assets and gross earnings. First Bank has over 700 branches and five (5) subsidiary companies, providing a comprehensive range of financial services.

The Bank has international presence through its subsidiaries, FBN Bank (UK) Limited in London, and Banque International de Credit (B.I.C) in the Republic of Congo, as well as its Representative Offices in Johannesburg, Beijing and Abu Dhabi.