Business

20Jan By Sharpedge NewsNo Comments

Business

First Bank Convenes Nigeria Economic Outlook Webinar for 2023

First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider, has announced the 2023 edition of its Nigeria Economic Outlook event. The virtual event themed “Nigeria Economic Outlook 2023: A look ahead” is scheduled by 8:30 am on Friday, 20 January 2023, via Zoom meeting. To register and participate in the event, do click on the link  https://firstbanknigeria.zoom.us/webinar/register/WN_Z-8Izr1sRHmdfRqZ5RiYeQ  The event will promote deliberations and analyses of national and global economic trends to shape 2023. Like its previous edition, the 2023 FirstBank Nigeria Economic Outlook aims to set the tone for the year by providing an opportunity for participants to learn directly from economic experts. Participants will be better informed and knowledg...

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12Jan By Sharpedge NewsNo Comments

Business

Adeduntan Urges Banks to Improve Loan Monitoring to Prevent NPLS’ Build-up

Managing Director/Chief Executive Officer of FirstBank, Dr. Adesola Adeduntan, has advised financial institutions in the country to be vigilant and improve the monitoring of their customers’ loans in order to prevent the build-up of non-performing loans (NPLs) in the industry as a result of the macroeconomic challenges. Speaking in an exclusive interview with THISDAY, Adeduntan also urged businesses and their bankers to approach the new year in a collaborative relationship in order to overcome anticipated headwinds in the economy. Adeduntan explained, “To prevent rising NPLs, businesses and their bankers will have to collaborate more and ensure timely flow of information to prevent surprises. “Banks on their part will have to improve monitoring of their loan portfolio to quickly ...

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10Jan By Sharpedge NewsNo Comments

Business

ADEDUNTAN: Banks, Customers Must Approach 2023 With Partnership Mindset

The Managing Director/Chief Executive Officer of First Bank Nigeria Limited, Dr. Adesola Adeduntan, in this interview with THISDAY reviewed the performance of the global economy in 2022 and advised businesses and their bankers to approach 2023 with a partnership mindset to ensure that a win-win outcome is achieved despite the anticipated macroeconomic challenges. Excerpts: What are your forecasts and anticipations for the global economy in 2023? I would like to start by noting that 2022 was indeed a turbulent year for the global economy. In 2022, the global economy witnessed record high inflation rates with the attendant high cost of living across several economies. The elevated inflationary rates were attributed to the aftereffects of the Covid-19 pandemic as well as the Russian-Uk...

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12Nov By Felix ShammahNo Comments

Business

FBNBANK UK Stands Tall at 40, Appreciates it’s Customers and Regulators

By Comfort I Adesipe FBNBank UK, a member of First Bank of Nigeria Limited and Subsidiaries had London, the United Kingdom painted blue as it celebrated its 40th anniversary, themed Partnership Beyond Borders, on Friday, 11 November 2022.  The event which had customers, members of government functionaries and the diplomatic community, regulators, captains of industries in attendance, was convened to appreciate the patronage and support the Bank had received since it opened its doors in the United Kingdom 40 years ago. As key stakeholders, they were instrumental to establishing the Bank as an important gateway to connect international markets in Africa, Europe and the rest of the world to the finest financial services solutions that the UK has to offer. Guests at the event include...

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7Oct By Sharpedge NewsNo Comments

Business

FIRSTBANK COMMEMORATES 2022 CUSTOMER SERVICE WEEK

First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider has announced its commemoration of the 2022 edition of the Customer Service Week scheduled to be globally celebrated on 3 – 7 October 2022.  The event themed: “Celebrating Service” will be marked across its FBNBank subsidiaries in over half a dozen countries which include FBNBank UK, FBNBank Ghana, FBNBank Senegal, FBNBank Gambia, FBNBank Guinea, FBNBank DRC and FBNBank Sierra Leone. Customer Service Week is an international celebration order xanax online official pharmacy that highlights the importance of customer service and staff who serve and support customers daily to deliver exceptional service to customers. The Bank’s celebration of the 2022 Customer ...

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27Sep By Sharpedge NewsNo Comments

Business

First Bank Partners Verve International, Makes Customers Millionaires in the First Bank Verve Card Promo

In partnership with FirstBank – Nigeria’s premier and leading financial inclusion services provider – Verve International, Africa’s leading payment technology and card business, has launched its third National Consumer promo designed to reward users of FirstBank verve card with exciting gifts and cash prizes to appreciate their patronage and use of the card to carry-out their electronic banking transactions. The ongoing 2-month promo will end on 30 October 2022 as 20 customers (10 customers per month) with the highest transaction count during the promo will be made millionaires, winning the sum of N1 million each. Also, N20,000 will be won by 25 customers monthly. On the other hand, 2620 FirstBank verve cardholders that double their transactions every week, stand a chance to enjoy 1...

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1Jul By Sharpedge NewsNo Comments

Business

FIRSTBANK LAUNCHES SINGLE-DIGIT LOAN FOR WOMEN-OWNED BUSINESSES, REINFORCES ITS ROLE IN STRENGTHENING GENDER INCLUSION IN NIGERIA

The FirstGem fund (FirstGem loan) is a single-digit loan scheme, exclusively designed to put women at an advantage in contributing to the socio-economic development of the country.The loan scheme covers female-owned or partnered SMEs in various sectors of the economyLaunched in 2016, FirstGem has been impactful in driving financial inclusion, influencing women's empowerment through gender-advancement programmes like savings culture, financial literacy, wealth  management and building an investment portfolio. In furtherance of its role in promoting female entrepreneurship across the country, Nigeria’s premier banking institution and leading financial inclusion services provider, First Bank of Nigeria Limited, has announced the launch of the FirstGem fund (FirstGem loan); a single-d...

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24Jun By Sharpedge NewsNo Comments

Business

Adeduntan Sustains His Winning Streak, Pioneers Leadership Excellence in Banking

Since his appointment as MD/CEO of First Bank of Nigeria Limited in 2016, Dr. Adesola Adeduntan has completely transformed the financial institution and has made it attractive to every strata of the society. From an institution that used to be perceived as an old-generation bank, FirstBank is now a darling to all as it leverages latest digital tools to meet its customers’ needs. Also, under Adeduntan’s leadership, the 128-year old bank has made huge contributions to national development, thereby stimulating development, setting standards and motivating excellent output across sectors. Clearly, these contributions to national development were what endeared Adeduntan to President Muhammadu Buhari who recently saluted him on his recognition by Cranfield University, UK, one of the most presti...

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20Jun By Sharpedge NewsNo Comments

Business

FIRSTBANK PARTNERS WITH ELOY FOUNDATION TO PROMOTE THE SUSTAINABILITY OF FEMALE OWNED SMALL BUSINESSES

In furtherance of the need to empower female business owners across the country, The ELOY Foundation, in partnership with FirstBank presents the ELOY Foundation Business Shower, created to support female entrepreneurs on their journey to building sustainable businesses. The support from FirstBank will be carried out through the FirstGem loan scheme designed for female-owned or partnered MSMEs and its SMEConnect initiative. The partnership focuses on key sectors of the economy and designed to have female entrepreneurs exposed to essential business skills like training, networking and the ELOY Foundation Business Toolkit, a compilation of business survival skills nuggets. The business shower will avail businesses a platform to pitch their ideas to win seed grants and join the ELOY Founda...

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6Jun By Sharpedge NewsNo Comments

Business

FirstBank – Reaping the Benefits of a Solid Legacy

FirstBank delighted investors with a pleasant surprise when it announced stellar results confirming that its turnaround strategy pinned on the pillars of innovation, resilience and digging deep is working. Its profit after tax spiked 108% to N32.4billion on the back of massive loan recoveries and a sharply lower level of non-performing loans (6.1%). Its capital adequacy ratio (CAR) increased to 17.4%, giving it the much-needed buffers required to withstand financial shocks and turbulent headwinds in the coming quarters. FirstBank, one of a handful of banks that adopted the holding company structure, has been proven right as almost all the other tier one competitors have emulated the model. As far as competition is concerned, FirstBank is fighting hard to recover lost grounds to the ...

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29Apr By Sharpedge NewsNo Comments

Business, Recent Stories

First Bank Wins Best Bank in Nigeria and Best Bank in Digital Transformation Nigeria 2022

Nigeria’s premier banking institution and leading financial services inclusion services provider, First Bank of Nigeria Limited has won two awards: Best Bank in Nigeria 2022 and Best Banking Digital Transformation Nigeria at the International Investor Awards 2022, a print and online publication that provides insights, news and visual informative pieces with topics ranging from world markets, investing opportunities, industry analysis and so much more. All content is dedicated to the global investment community that wants to take a step ahead. The bank was recognized with the Best Bank in Nigeria 2022 award for its leadership role in promoting financial inclusion in Nigeria which has been integral to improving lives and stimulating businesses of individuals across the country.  ...

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14Mar By Sharpedge NewsNo Comments

Business

First Bank Rewards Customers with 50 Million Naira Worth of Prizes in Verve Card Campaign 

FirstBank, Nigeria’s leading financial inclusion services provider has urged its customers to take advantage of the Bank’s ongoing Verve Card campaign designed to reward customers for their continued usage of the Verve debit Card.  The Eight-week promo will end on Wednesday, 30 March 2022 as 2,601 customers will win various prizes. These prizes include N20,000 Cash Prize, N10,000 Cash Prize, N10,000 worth of airtime; power generating sets, refrigerator, cooking gas and the grand prize of a brand-new car. The promo will reward customers on a weekly and monthly basis. In every week of the promo, 200 customers who carry out a minimum of 2 transactions with their Verve debit card stand a chance to win N10,000.00 worth of airtime, cash prizes of N10,000 and N20,000.  Further...

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9Feb By Sharpedge NewsNo Comments

Business

FIRSTBANK REWARDS CUSTOMERS IN ITS VISA GOLD CASHBACK CAMPAIGN

In furtherance of its appreciation of customers, whilst promoting the adoption of mobile payment solutions in the country, FirstBank is rewarding holders and customers of its branded Visa Gold card in its ongoing Visa Gold card. The promo which will have over 300 Visa Gold cardholders rewarded during the promo is scheduled to end on 25 March 2022. Each month, the first 50 customers with an average transaction value below $150 in the last 6 months will be rewarded with 10% cashback on transactions carried out on POS and across the web. To qualify to be rewarded, the card must be used at least 3 times monthly on POS/Web (within the campaign period) with a minimum cumulative spend of $300. The maximum transaction value for purchase cashback is $500. In addition, the first 50 customers ...

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31Jan By Sharpedge NewsNo Comments

Business

First Bank’s SMEConnect Portal Could be the Differentiator for SMEs in Nigeria

Over a hundred years since banks came into Nigeria, services rendered to small and medium scale businesses were limited to core banking services and transactions. However, those that cared to look further were able to stand the test of time, reinventing themselves with cutting-edge financial services that remain key to sustaining its relevance to not just its host communities but the global community.  Based on findings from extensive engagements with customers, internal and external surveys and reports by SMEDAN, Efina and NBS, First Bank of Nigeria Limited has been deliberate in ensuring that SMEs thrive and grow their businesses as SMEs can access and enjoy the convenience of its industry-leading financial services. FirstBank thus launched the SMEConnect portal to congregate value-a...

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20Jan By Sharpedge NewsNo Comments

Business

First Bank Rewards Customers in Transact and Win Promo

Getting rewarded for spending money is a dream that is probably going to remain exciting for many people, but not for the Firstmonie Wallet users. In a two month Transact and Win campaign that started on November 22, 2021, First Bank of Nigeria Limited is rewarding several customers for carrying out transactions on its Firstmonie Wallet application.  The e-wallet is useful for conveniently paying utility bills, purchasing airtime and data, transferring and receiving money, and many other digital transactions. Just for using the mobile-friendly wallet app, Customers got rewarded with mouth-watering prizes both in cash and kind. The number of transactions done on the app determines the price a user could win.  100 customers who had done 1-15 transactions through Firstmonie W...

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14Jan By Sharpedge NewsNo Comments

Business

FIRSTBANK Convenes Nigeria Economic Outlook Webinar for 2022, Sets the Tone for Deliberations on Continued Economic Recovery and Business Impact

First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider has announced its “Nigerian Economic Outlook Webinar” convened to reflect national and global economic trends that shaped 2021, whilst forecasting the economic outlook of 2022.      The virtual event themed “A rearview look at 2021, lessons learnt-Outlook 2022” is scheduled by 1 pm on Thursday, 13th January 2022 via Zoom meeting. Click on the link  https://firstbanknigeria.zoom.us/webinar/register/WN_zrF8VViyTp6wnzED_3IpWw    to register and participate in the event. Registration is Free!!!     The webinar aims to set the tone for the year by providing an opportunity for participants to learn directly from economic experts to stay informed and k...

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28Dec By Felix ShammahNo Comments

Business

FIRSTBANK, DRIVING DOLLAR REMITTANCES, ECONOMIC GROWTH VIA IMTOS

By Chinwendu Obienyi  For centuries, there have been heated debates over the sources of economic growth in developing economies and why some countries reflect strong economic growth compared to others. The hypotheses have often centred around crude oil, agriculture, revenues, private capital, bubbling stock market, stable security, low unemployment rate, high standard of living amongst others. But in recent times, one factor that has been added to this list is diaspora remittances as it is one of the major international financial resources, which sometimes exceed the flows of foreign direct investment (FDI). Remittances promote economic growth by increasing household income and increasing income creates the opportunity to boost consumer spending, accumulation of assets,...

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22Dec By Sharpedge NewsNo Comments

Business

FIRSTBANK: Unlocking Wealth in Salary Account

Kayode Tokede examines ways monthly salary earners with FirstBank accounts can benefit from the lender’s numerous loans initiatives amid harsh economy In time past, monthly income earners – especially bank customers – were unable to have quick access to personal loans to meet their immediate financial needs due to the stringent conditions. The Central Bank of Nigeria (CBN) had introduced the Know-Your-Customer (KYC), among other policies, to enhance financial inclusion and reduce the incidence of related identity fraud in the banking sector. These have enhanced the capabilities of banks to grant soft loans to customers. With these, monthly income earners have access to loans every month with an attractive interest rate, below the stipulated limit, which has eased customers with t...

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30Nov By Sharpedge NewsNo Comments

Business, Top Stories

First Bank Holds Non-oil Export Webinar Series, Creates Awareness of the Bank’s Export Solutions

First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services provider, has announced the convening of its non-oil export webinar series. The event is centered on deliberating opportunities that will enhance the country’s expansion of its drive towards diversifying the national economy, thereby reducing the reliance of oil as a mainstay of the country’s revenue.   The first series of the virtual event is scheduled for 10 am on Tuesday, 30th November 2021 via Zoom meeting. To register and be part of this transformational knowledge session, click on this link-https://www.firstbanknigeria.com/business/non-oil-export/. Registration is Free!!  The event is themed “Building Sustainable Non-Oil Export in Nigeria; Harnessing Opportunities within the AfCFTA T...

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25Oct By Sharpedge NewsNo Comments

Business

Firstbank Partners NIBSS To Drive Digital Payment Convenience With Nigeria Quick Response (NQR)

First Bank of Nigeria Limited, Nigeria’s premier and leading financial inclusion services organisation has announced its partnership with Nigeria Inter-Bank Settlement System plc (NIBSS) on its recently launched Nigeria Quick Response (NQR) Payment Solution. The NQR is an innovative payment option implemented for all financial service providers and designed to promote quick and fast transactions by scanning the code on one's mobile device. Also, the initiative reduces cost(s) for merchants and banks in delivering instant value for person-to-business (P2B) and person-to-person (P2P) transactions by simply scanning to pay. Unlike other QR schemes, the NQR is implemented with reduced charges that is cheaper for merchants. The initiative is accessible on the Bank’s payment infrastructur...

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