FBNH Reacts to Online Publication On Merger Talks Involving First Bank

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Friday, March 13, 2020 01:32 PM / NSE / Header Image Credit:

 

With respect to the online publication on the largest subsidiary of FBN Holdings Plc, First Bank of Nigeria Limited by Independent Newspapers Limited dated 12 March, 2020 captioned "First Bank Set to Merge with Heritage Bank, Polaris Bank", we wish to state as follows in line with Rule 17.10 of the Rulebook of the Exchange 2015:

 

 

1. Recent events in the industry have thrown up Merger and Acquisition opportunities for Banks.

 

2. It is therefore not unexpected that Analysts will continue to share viewpoints about the evolution or potential consolidation in the Nigerian Banking Industry.

 

3. There will always be speculation on FirstBank's involvement on account of its size, liquidity, systemic importance and historic support in backstopping the industry.

 

4. Inorganic growth remains a strategic consideration for all financial institutions, but from FirstBank's perspective, will only be considered when it is value accretive to shareholders and other key stakeholders.

 

5. Similar to other Nigerian Banks, FirstBank continues to scan Sub Saharan Africa in general for potential acquisitions.

 

6. FBN Holdings Plc is mindful of its responsibilities as a Premium Board listed company and will make appropriate disclosures should it find such value.

 

Visit FBN Holdings Plc IR Page in Proshare MARKETS 

 

Graph - One Year Share Price Movement

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Proshare Reports on FBN Holdings, Heritage Bank and Polaris Bank Ltd

1.      Heritage Bank: Of Moral Hazards And The Unravelling Of A Deposit Money Institution

2.     Governance in New Polaris Bank, CAC Actions Offer A Clue

3.     Analysing the H1 2017 Performance of FBNHoldings Plc - A Comprehensive Report

4.     FBNHoldings Plc Q1' 2017 Performance Assessment Report Updated

5.     Analysing the Performance of FBN Holdings Plc - A Comprehensive Report

6.      Skye Bank Plc: One Year After CBN Takeover 

7.      Reworking the Acquisition Maths of Mainstreet Bank by Skye Bank Plc

8.     How to Buy a Nigerian bank with no money 

9.     The Surprising New Math of Acquisition of Banks in Nigeria - The Skye Bank Case 


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