First Bank Announces New Name, Shareholders Approve New Identity
- First Bank holding company has announced a rebrand as it seeks to create a uniform identity across subsidiaries
- The bank across Africa has been working on creating brand clarity and consistency in recent months
- First Bank has branches in several countries across Africa and Europe and remains one of Nigeria's oldest bank
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.
FBN Holdings Plc, a leading financial company, has rebranded as First HoldCo Plc (FirstHoldCo), a move aimed at creating a uniform identity across all its subsidiaries.
The change was announced in a statement released on Tuesday, February 11, 2024.
Source: Getty Images
The statement further noted that the rebranding shows FirstHoldCo’s commitment to innovation, customer focus, and operational excellence.
Part of the statement reads:
"FirstBank, FirstHoldCo Plc will retain First Bank Nigeria Limited as its flagship brand while adopting new, unified names for its other subsidiaries in Asset Management, Capital Markets, Securities, Trusteeship, and Insurance Brokerage.
“FirstHoldCo intends to implement this name change across the Group, as soon as the necessary regulatory approvals are received.
Legit.ng reported that First Bank shareholders at the 12th Annual General Meeting of the holding company held in November 2024 approved a change in the legal and brand names of the company from FBN Holdings to First HoldCo Plc and FirstHoldCo, respectively.
Details about First Bank's name change
First Bank described the transformation and rebranding as a pivotal milestone in its journey to redefine its identity, unify its subsidiaries, honour its heritage, and solidify its leadership in the financial services industry.
Wale Oyedeji, Group Managing Director (GMD), said the transition represents a defining moment in the company’s history, marking a strategic shift towards future growth and innovation, Punch reports.
Oyedeji said:
“The transition to FirstHoldCo Plc marks a defining moment in our history as we embark on a bold path toward the future. This rebranding goes beyond a name change; it is a reaffirmation of our purpose, vision, and commitment to providing world-class financial solutions to our stakeholders.”
He added that the rebranding unifies the company’s identity across subsidiaries and regions, reinforcing its leadership position in Africa while maintaining a global presence.
He added:
For our stakeholders, this transformation marks a renewed commitment to excellence and innovation. It strengthens our dedication to creating lasting value while preserving the trust and confidence that have shaped our relationships for over a century."
The GMD highlighted that within Nigeria, FirstHoldCo’s unified brand structure will strengthen operational synergies, enhance clarity in service offerings, and improve the delivery of tailored solutions for businesses and individuals nationwide.
He noted:
“Internationally, it strengthens the Group’s position as a formidable organisation, enabling us to capitalise on global market opportunities while reinforcing our role as a trusted partner in financial services.”
ThisDay reports that the GMD noted that the rebranding aligns with the company’s strategic vision of staying ahead of industry trends through innovation and a customer-centric approach.
He concluded.
“We are not just redefining a brand; we are shaping a legacy that seamlessly blends heritage with progress, tradition with transformation, and local impact with global reach."
10 biggest commercial banks in Nigeria in 2025
Legit.ng earlier revealed the list of the largest commercial banks in Nigeria as of February 2025 has been revealed, as investors scramble for top bank shares.
Zenith Bank and GT Bank top the list as the largest commercial banks in the Nigerian market
First Bank also made the list and ranks among the financial institutions worth over N1 trillion.
Proofreading by James, Ojo Adakole, journalist and copy editor at Legit.ng.
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Source: Legit.ng
