First Bank Group CEO says banking remains a game-changer

The Chief Executive Officer of First Bank of Nigeria Limited and Subsidiaries, the parent company of FBNBank Ghana, Dr. Adesola Adeduntan, has stated that banking remains a game-changer for countries like Ghana and Nigeria, for the facilitation of socio-economic development and bringing people together.

Delivering his address at the FBNBank@25 Gala Dinner held in commemoration of the 25th anniversary celebrations of FBNBank Ghana, Dr. Adeduntan indicated that “banking has remained a game changer for West Africa since the 1890s when it was introduced into the sub-region.”

Through the introduction of banking, we have enjoyed benefits like the monetization of our economies, improved trade, socio-economic development and the bridging of the gap between people and cultures. We are told of the support thriving businesses like Elder Dempster, A. G. Leventis, U.A.C. and others enjoyed from the banks of those days and how the introduction of formal businesses generated momentum in the socio-economic development of the then colonial territories which have become our countries now.”

Dr. Adeduntan mentioned that the late 1890s also witnessed the birth of the First Bank of Nigeria, adding that “for over 127 years, the First Bank of Nigeria has remained committed to this role, ensuring responsible support through generations to the growth of economies and businesses.”

He explained that in line with the same enterprising spirit with which First Bank committed itself over generations to support the growth of economies and businesses, the Bank migrated its business to Ghana to set up FBNBank Ghana. According to Dr. Adeduntan, “working together with our stakeholders like the government, regulators and people of Ghana, we aim to leverage our experience and capabilities to become a major player in this country (Ghana). I am happy to say, our team in Ghana is capable and passionate about seeing this through and we from the parent company are ready to support.”

He revealed that since taking over from the erstwhile International Commercial Bank in Ghana, FBNBank Ghana with the full support of First Bank of Nigeria has focused on delivering sustainable support to key sectors of Ghana’s economy with a dedicated focus on SMEs. He noted that FBNBank’s support continued throughout the peak period of the COVID-19 pandemic, ensuring that critical supply lines remained open.

Thanking the key stakeholders, including His Excellency the President Akufo-Addo, the government and people of Ghana, the Bank of Ghana and other regulators and also customers and clients of FBNBank Ghana, the Chief Executive Officer of First Bank of Nigeria Limited and Subsidiaries pledged their commitment to contributing significantly to Ghana through staking a stronger claim to becoming a major player in the country’s financial sector.

 “I would like to reemphasize that our commitment to Ghana is absolute as shown by our actions during the recent recapitalization of banks in Ghana. FBNBank is ready and capable of going the long haul with Ghana just as First Bank has done in Nigeria.” He added

FBNBank Ghana announced its 25th anniversary celebrations in January this year and has since rolled out a host of activities in commemoration of the significant milestone including the National Trade Forum, a Golf Tournament, Customer and Client Engagement events, a Corporate Responsibility & Sustainability Week and several staff events. The FBNBank@ 25 Gala Dinner was a key activity for engaging relevant stakeholders like government, regulators, customer, clients and staff of the Bank and to celebrate the successes of the last 25 years with the aim of positioning the Bank for the next significant milestone year.

Present at the event was the Honourable Deputy Minister of Finance, John Kumah who represented His Excellency President Akufo-Addo, Mrs. Elsie Addo Awadzi, Second Deputy Governor of the Bank of Ghana, Ambassador Admiral Ibok, the Nigerian High Commissioner to Ghana, Mr. Yoofi Grant, Chief Executive of the Ghana Investment Promotion Council, Mrs. Mansa Nettey, the President of the Ghana Association of Banks and Managing Director of Standard Chartered Bank, Mr. John Awuah, Chief Executive of the Ghana Association of Banks and several Managing Directors of some of Ghana’s banks.

FBNBank has in its 25 years of operating in Ghana remained focused on putting its stakeholders first. This, it has sought to do through the rich value and excellence of what the Bank contributes to the relationship with its stakeholders as a whole, particularly the customers. FBNBank Ghana is a member of the First Bank of Nigeria Limited Group which is renowned for its great customer service and general stakeholder engagement garnered over its 127 years of operation. FBNBank Ghana has 20 branches and two agencies across the country with over 400 staff. FBNBank offers universal banking services to individuals and businesses in Ghana.