FBN Bank Ghana to focus on SMEs

FBN Bank Ghana, a subsidiary of First Bank of Nigeria has prioritised small and medium enterprises (SMEs) financing as it begins the roll-out of aggressive plans to capture the unbanked population in the country.

“FBN Bank Ghana plans to give SMEs all the support to expand their businesses and flourish,” Dr. Oba Otudeko, Group Chairman of FBN Holdings, said at the official launching of FBN Bank Ghana in Accra.

The launch of FNB Bank Ghana follows the acquisition of International Commercial Bank’s (ICB) operations in the West African sub-region.

President Mahama commended management of FBN for starting its operations in the country and bringing its 120 years of banking experience to bear.

So far, FNB Ghana has invested millions of dollars to rebrand and remodel the bank to compete favourably in the Ghanaian market.

Dr. Otudeko said the entry of FBN Bank into the Ghanaian market will deepen competition and boost financial inclusion in an economy where about two-thirds of the population do not have a bank account.

“Therefore, the conscious decision by FBN Holdings to enter the Ghanaian market by establishing FBN Bank Ghana ties in with the vision of ECOWAS to create economic empowerment for our people,” he added.

Dr. Oba Otudeko, who is expectant of success for FNB’s operations in the country, maintained that the 120-year old bank will draw on its experience to achieve substantial growth within the shortest possible time.

The iconic African elephant with navy blue and ivory colours has been a symbol of one of the biggest international players in the financial services industry since 1894.

The Managing Director of FBN Bank Ghana, Seyi Oyesefo, added that the unveiling of FBN Bank comes with single-minded focus on galvanising the capability to offer excellent banking services to customers and other stakeholders in Ghana.

“With the exception of South Africa, First Bank of Nigeria currently holds the largest and strongest balance sheet of any bank in sub-Saharan Africa, and is currently one of the sub-region’s largest lenders.

“Over the past 120 years, we have served our customers with excellence, impacted positively on the banking industry as a pioneer, contributed our share to the growth of the Nigerian economy and, above all, discharged our obligations to the regulator, our shareholders and employees without fail.

“We are pleased to be offering such quality assistance to our stakeholders in Ghana. FBN Bank Ghana (formerly International Commercial Bank-ICB), is officially launched into the Ghanaian local market.

“Having understudied the local market trends with a relative understanding of the fiscal and cultural dynamics at play, the board and management of the FBN Bank Ghana have now taken up the role of major and relevant players in growing the financial and business sectors of the economy,” he added.

President John Dramani Mahama, who officially outdoored the bank, expressed his delight with the Nigerian-owned bank’s entry into the Ghanaian market.

“I am happy you are coming in. We know the financial muscle that First Bank of Nigeria has and it is my hope that the competition it engenders in the Ghanaian banking sector will be to the benefit of both Nigeria and Ghana.”

thebftonline.com