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Nairametrics
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Home Sectors Financial Services

FirstBank: How Nigeria’s 19th Century institution remains 21st Century bellwether  

Analysts Nairametrics by Analysts Nairametrics
August 18, 2023
in Financial Services, Sectors
First Bank
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FirstBank is unarguably Nigeria’s most enduring institution, even older than the Federal Government of Nigeria. 

Over 129 years of banking services to Nigerians and still maintaining an aura of firsts in one of Nigeria’s most competitive industries could only be achieved through evolution and innovation.

So, for many, it is not surprising the quality of awards FirstBank has received over the years and has already received halfway into 2023. 

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They include: 

Best Private Bank for Sustainable Investing in Africa Award 2023 by Global Finance:

The Award acknowledges and applauds FirstBank’s exceptional attention to the unique requirements of high net-worth individuals as they seek to increase, protect and pass on their wealth. 

Best Financial Inclusion service provider in Nigeria 2023 by Digital Banker Africa:

FirstBank received recognition for its exceptional achievement in spearheading the market with innovative financial solutions aimed at addressing the needs of underserved communities.

The organization achieved this by employing dependable, secure, and advanced technology that is both robust and cost-effective for its agents and customers. 

African Bank of the Year by African Leadership Magazine:

The Bank was presented with the Award as a testament to its exceptional performance.

The African Leadership magazine is published by African Leadership (U.K.) Limited, a company registered in the United Kingdom.

The magazine focuses on bringing the best of Africa to a global audience, telling the African story from an African perspective while evolving solutions to peculiar challenges being faced by the continent today. 

Next 100 Global Awards- Retail Bank by Global Banking & Finance:

FirstBank won the award in appreciation of its sterling performance in the Retail Banking sector.

The Next 100 Global Companies to Watch highlights some of the most exciting, innovative, and promising businesses from around the world.

The list recognizes companies at the forefront whose strategy, achievements, dedication, and leadership of those who demonstrate outstanding achievement and are committed to delivering the products clients need and the results clients want, acting as a catalyst for the industry. 

Next 100 Global Awards – Digital Experience Centre by Global Banking & Finance:

The Award was presented to FirstBank for its prominent role in promoting innovation by launching the Digital Experience Centre.

The Next 100 Global Companies to Watch highlights some of the most exciting, innovative, and promising businesses from around the world.

The list recognizes companies at the forefront whose strategy, achievements, dedication, and leadership of those who demonstrate outstanding achievement and are committed to delivering the products clients need and the results clients want, acting as a catalyst for the industry. 

Best Private Bank Award by World Finance:

The Award recognizes and commends FirstBank’s exceptional dedication to meeting the distinct needs of affluent individuals as they strive to grow, safeguard, and transfer their wealth. 

Best Corporate Bank Western Africa 2023 by Global Banking Finance Awards:

The Award recognizes FirstBank’s remarkable achievement in providing exceptional corporate banking services across Western Africa. Global Finance, founded in 1987, has a circulation of 50,000 readers in 193 countries.

Global Finance’s audience includes senior corporate and financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions.

Global Finance regularly selects the top performers among banks and other providers of financial services.

These awards have become a trusted standard of excellence for the global financial community. 

Best CSR Bank Western Africa 2023 from Global Banking and Finance Awards:  

FirstBank won the Award for the impactful implementation of its SPARK initiative in fostering and advancing conscious acts of kindness across West Africa. SPARK is a values-based initiative designed to raise consciousness that individuals can choose to be kind.

SPARK, which was introduced in the maiden edition of the Corporate Responsibility and Sustainability (CR&S) week in 2017, espouses reigniting values which appear to be eroding fast.

The initiative focuses on creating and reinforcing an attitude of going beyond just meeting the material needs of people who are unable to help themselves, to showing compassion, empathy, and affection. 

Best Retail Bank – Nigeria 2023 by International Finance Awards:

The Award recognizes FirstBank’s unwavering commitment to advancing financial inclusion through its extensive branch network, Agency Banking, and cutting-edge digital solutions that provide a wide range of retail products. 

Most Innovative Retail Banking Product – FastTrack ATM – Nigeria 2023 by International Finance Awards:

FirstBank won the Award for demonstrating its commitment to innovative financial solutions by pioneering the FastTrack ATM.

The touchless solution enables USSD string or mobile banking app to initiate and later complete transactions by tapping a contactless Near Field Communication card on a designated ATM. 

Financial Institution of the Year 2023 by Afreximbank Pan-African Business and Development Awards:

The Bank was presented with this award at The Pan African Business and Development Awards hosted by the African Export-Import Bank (Afreximbank) in association with the Business Council for Africa, in Accra, Ghana for its excellent performance in the business and financial sector. 

A customer with the bank, Niyi Oduole, has commented that he is not surprised about the feast of awards because the bank is always ahead of the pack when it comes to meeting customers’ needs. “The bank is always there to meet the changing needs of its customers,” he said. 


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Analysts Nairametrics

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