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Expansion First Bank opens Guinean subsidiary

One of Nigeria's oldest financial institutions, First Bank of Nigeria, has spread its reach to Guinea.

  • Published:
Bisi Onasanya play

Bisi Onasanya

(Financial Times)

First Bank of Nigeria Plc has boosted its African expansion drive with the opening of a new branch in Guinea.

The bank in a statement, said it had inaugurated FBNBank Guinea, which was formerly registered as International Commercial Bank, Guinea.

The bank said the inauguration came on the heels of the agreement reached by First Bank and International Commercial Bank Financial Group Holdings for the acquisition of a 100 per cent equity interest in ICB, Guinea.

The statement signed by the Group Managing Director/Chief Executive Officer (FBN), Bisi Onasanya  said:

“The launch further consolidates First Bank’s position as the largest corporate and retail banking financial institution in sub-Saharan Africa (excluding South Africa) with presence in Ghana, Gambia, Guinea, Senegal, and Democratic Republic of Congo as well as presence in the United Kingdom and representative Offices in Johannesburg, Abu Dhabi and Beijing.

FBNBank Guinea is strategically positioned to foster greater collaboration and provide better service for the country’s public and private sector clients, and the general public at large.”

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