First Bank and Institutional Learning - A Sense of History

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Tuesday, September 21, 2021 05:30 AM / by Proshare Research/ Header Image Credit: EcoGraphics


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The tier 1 lender has dominated Nigeria's financial services market for over a century. Though still leveraging its brand as one of the most valued brands, the bank has had to relinquish some of its sectoral leadership to a couple of other institutions that gained market share after establishing themselves as new generation banks in the 1990s due to the growing dynamism of the industry. The financial holding company has also undergone significant historical changes to offer better customer service and improved products.

 

To respond successfully to changing conditions over the years, the Bank has undertaken several restructuring programs. From the first Nigerian bank to wholly own a full-fledged bank in the UK in 2002 to divest from the FBN Insurance in 2020 and to more recently launching a new corporate website of FirstBank. Based on key criteria such as asset size growth, deposit base growth, and gross loan size growth, the group's performance has improved substantially.

 

Below is an illustration of the high points and challenges faced by FBN Holdings over the last two decades (see illustration 5 below).

 

Illustration 5: FBN - Highpoints and Challenges

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Downloadable Versions of 100 Days After CBN's Board Removal: First Bank's Shaky House of Cards Report (PDF)

1.      Executive Summary: 100 Days After CBN's Board Removal: First Bank's Shaky House of Cards -  September 19, 2021

2.     Full Report: 100 Days After CBN's Board Removal: First Bank's Shaky House of Cards  -  September 19, 2021


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Related Articles/References

1.    Of First Bank and Bad Debtors; A System's Throbbing Headache - Apr 30, 2021 - Proshare Editorial

2.  CBN Removes Boards of First Bank of Nigeria, FBN Holdings; Appoints New Chairmen - Apr 29, 2021 - Proshare News

3.   Analyzing the H1 2017 Performance of FBNHoldings Plc - A Comprehensive Report/Review on the Company - Oct 23, 2017, Proshare Research

4.   FBNHoldings Plc Q1'2017 Performance Assessment Report Updated - Sep 25, 2017, Proshare Research

5.   Bank NPLs (23) - The Case for a New Approach - Jun 07, 2020 - Debtors Africa

6.  W. Chan Kim and Renee Mauborgne (2004) "Blue Ocean Strategy" 

7.  Board Governance: A Thin Line Between Oversight and Operations - Sep 28, 2020 - IoD Centre for Corporate Governance

8. Leadership, Change and Corporate Transformation - The Nigerian Experience  Nov 07, 2017, Olufemi AWOYEMI - Proshare

9.   CEO Remuneration 2021 Report: From COVID to Collaboration - Aug 01, 2021, Proshare Research

10. Memo to the Market - The NSE, Oscar Onyema Foundation and Corporate Governance - Aug 20, 2018, Olufemi Awoyemi, Proshare

11.   FBN Holdings Plc - IR Page on Proshare Markets - Proshare Research

12.  Annual Accounts - IR Page in Proshare - Proshare Research

13.  Bernard Longe wins suit against First Bank Plc, Supreme Court decides today - Mar 05, 2010, Proshare



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Related News from the Report

1.      100 Days After CBN's Board Removal: First Bank's Shaky House of Cards - Sep 19, 2021

 

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