At half year 2020, FBNBank Ghana posted an impressive growth across all major performance indices over the corresponding prior period in 2019. The profitability of the bank witnessed an industry leading growth of 77% reflecting the capacity and ability of the leadership in effectively translating revenue to profit notwithstanding the challenging economic impact of the COVID-19 pandemic.

Similarly, there is improved customer patronage of the brand during the year. This is reflected in the significant growth of 58% in both customer deposit and total assets of the bank.

By strengthening the risk management framework of the Institution, the bank was able to curtail incidences of impairments on its risk asset as the impairment charged was reduced significantly by 36% over the prior period in 2019.

Reflecting on this performance, Managing Director of FBNBank Ghana, Victor Yaw Asante attributed this to the pursuit of the bank’s vision to be a clear leader and Ghana’s bank of first choice, a quest which influenced the deployment of the bank’s resources towards the larger interest of our customers and other stakeholders

The bank’s Chief Financial Officer, Semiu Lamidi stated that the spectacular half year performance was a reflection of the huge investment the bank had made in the provision of information technology infrastructure, the improved workforce environment and disciplined execution of cost efficiency strategies.

FBNBank Ghana has been on a quest to endear the brand to its stakeholders in the Ghanaian market and using all available means to make the brand a mark of excellence.

 

About FBNBank Ghana Limited                

FBNBank Ghana Limited (FBNBank) is member of the First Bank of Nigeria Limited Group. FBNBank, a subsidiary of First Bank of Nigeria Limited has 21 footprints in Ghana with over 400 staff and offers universal banking services to individuals and businesses. FBNBank was formerly International Commercial Bank (ICB) and has been in the business of banking for 24 years in this country. FBNBank is part of the trade hub that has grown economies for 126 years across Africa, Europe and China.

fbadmin
August 28th, 2020
Posted In: 2020 Press Releases

FBNBank Ghana, a subsidiary of First Bank of Nigeria Limited has announced the retirement of Hon. Joseph Yieleh Chireh as Chairman of the Bank’s Board of Directors. A Pharmacist, Legal Practitioner and Member of Parliament for Wa West, Hon. Yieleh Chireh served two terms as Chairman of FBNBank Ghana’s Board from 2014 to 2020.

In a statement, on behalf of the Shareholder, Management and the entire Staff of FBNBank Ghana Limited, the Directors lauded Hon. Joseph Yieleh Chireh for his commitment, dedication and selfless service during his tenure to position the bank very well in its journey to become the leading bank in Ghana.

According to the statement, during the tenure of Hon. Yieleh Chireh’s steady and dynamic leadership, FBNBank Ghana met the regulator’s minimum capital requirement of GH¢400 million at the end of 2018 and is well anchored with lots of ongoing development and growth activities.

The Directors urged Hon. Yieleh Chireh to utilize his wide area of expertise to continue serving the country adding that from time to time, the bank will engage him for advice and guidance as when necessary.

About FBNBank Ghana

FBNBank Ghana Limited is a member of First Bank of Nigeria Limited Group. FBNBank Ghana Limited (FBNBank), a subsidiary of First Bank of Nigeria Limited, has 21 branches and agencies in Ghana with over 400 staff and offers universal banking services to individuals and businesses. FBNBank Ghana Limited was formerly International Commercial Bank (ICB) and has been in the business of banking for 24 years in this country. FBNBank Ghana is part of the trade hub that has grown economies for 126 years across Africa, Europe and China.

From left to right: Mr. Mohammed Ozamah, Executive Director (Risk) FBNBank Ghana, Mrs. Hannah Brenda Amoateng, Director, Mr. Victor Yaw Asante, Managing Director, FBNBank Ghana, Mr. Semiu Lamidi, Executive Director (Finance), FBNBank Ghana and Hon. Joseph Yieleh Chireh, Former Board Chairman, FBNBank Ghana

fbadmin
August 14th, 2020
Posted In: 2020 Press Releases

FBNBank Ghana, as part of its commitment to empower all who embrace its brand with seamless access to everyday financial services has unveiled the quick banking *894# product. The product bestows the power to bank anywhere and at any time to customers. According to the bank, it is convenient, easy, simple and quick to use.

The quick banking *894# product promises flexible options, exceptional convenience and allows customers to bank with any phone on the MTN, AirtelTigo and Vodafone mobile networks. Users of the product do not require internet to access the platform, only mobile network availability. Quick Banking *894# is delivered on the customers’ registered phone number linked to their FBNBank accounts.

Mrs. Rachel Adeshina, Country Head, Technology and Services at FBNBank Ghana stated that quick banking *894# has made any mobile phone a mobile branch of the bank. She announced that FBNBank customers can register for this product when they dial *894#, select registration, enter their account number and a five-digit Personal Identification Number (PIN).

 

She added that users can open accounts, transfer money to FBNBank and other banks customers in Ghana, buy airtime for themselves and their loved ones, check account balance, request for mini statements, reset their PIN and more wherever and whenever they want these services.

 

While assuring customers of maximum security when using quick banking *894# for transactions, Mrs. Adeshina emphasized that every number on the platform is already registered with the bank.

According to Mrs. Adeshina, FBNBank Ghana’s introduction of quick banking *894# is in line with strategy to bring financial services closer than ever to the FirstBank of Nigeria Limited’s subsidiary in Ghana. The launch represents a key step in FBNBank’s digital banking strategy, which aims to leverage new and evolving technologies to facilitate access to everyday financial services for consumers and businesses alike. 894 also reflects the origins of our over 125-year-old bank, established in 1894 in Nigeria.

fbadmin
August 3rd, 2020
Posted In: 2020 Press Releases

FBNBank Ghana has announced the signing of the award winning Reggae and Dancehall recording artiste, songwriter and performer, Samini as ambassador of its new product, quick banking *894#.

Samini will be featured in a gripping integrated advertising campaign for the quick banking *894# product which will run on radio, print and online channels.

Africa1 Media, Samini’s management company expressed incredible excitement about FBNBank Ghana’s partnership with Samini. The company was optimistic that the partnership will yield amazing results for both brands.

Samini, the quick banking *894# product ambassador said “FBNBank Ghana has a rich heritage of being a constant financial partner throughout its customers’ lives and I am thrilled to work in partnership with the bank.” While stating that the product ambassadorial collaboration is sure to be a winner, Samini said “more importantly, I urge you to dial *894# now to enjoy easy and simple banking.”

Quick Banking *894# is a mobile application that enables customers to conduct banking on their mobile phone wherever they are at any time. Customers dial *894#, follow the prompts to enroll and activate for quick and easy banking.

In a statement, Victor Yaw Asante, FBNBank Ghana Managing Director was delighted that the bank partnered with Samini. He noted that with a career spanning over twenty years and amassing multiple awards, the Samini brand has been instrumental in the growth of several brands. Mr. Asante was convinced that as Product Ambassador of quick banking *894#, Samini will in no small measure, contribute immense value to the FBNBank brand.

The FBNBank Ghana MD disclosed that the First Bank of Nigeria Limited subsidiary in Ghana is continuing its quest to endear the brand to its stakeholders in the Ghanaian market. “This is because we take pride in being exclusively customer-centric and we go to great lengths to put the needs of our customers at the heart of our business. Our commitment is to set the gold standard of customer experience and excellence in financial services solutions. Since 1894, our brand has developed a unique culture of making the people we serve our utmost priority and today, we reinforce our application of this culture, even as we provide unrivalled value to all our customers during this integrated advertising campaign and beyond.”

Mr. Victor Yaw Asante called on Ghanaians and businesses to take full advantage of FBNBank’s distinctive values and rich heritage which has made its brand a leading African brand and one of the most credible financial institutions on the globe.

     

Emmanuel Andrews Samini,             Victor Yaw Asante

FBNBank Ambassador                        FBNBank Ghana MD

fbnweb
August 3rd, 2020
Posted In: 2020 Press Releases

FBNBank Ghana Limited (FBNBank) has announced a new partnership with Unity Link Financial Services for instant money transfers to all FBNBank Ghana accounts in a fast and secure way. This forms part of the bank’s commitment to improve virtual payment and money transfer services in the country and the global financial space.

Country Head, Technology & Services of FBNBank Ghana, Rachel Adeshina said the bank’s introduction of the Unity Link money transfer service is based on its proposition to always put customers first by ensuring that its products and services are tailored to meet their needs and aspirations.

Mrs. Adeshina also stated that, FBNBank Ghana rolled out the Unity Link money transfer services to leverage the wide e-platform capabilities it offers to further ease the money transfer process for their numerous customers that constantly seek new and easier payment options.

The Unity Link money transfer service allows customers to receive their remittances directly into their accounts with the bank. With the introduction of the service, FBNBank Ghana now provides money transfer services for a total of seven operators such as Western Union, MoneyGram, Ria, Sigue, TransFast, and Wari. Non-customers of the bank can also pick up their Unity Link remittances from any branch of the bank.

Unity Link is a non-bank financial institution authorised by the Financial Conduct Authority (FCA) and registered with the HMRC in the UK and by regulators in other European countries to provide money transfer and other related business services.

About FBNBank Ghana Limited                

FBNBank Ghana emerges from an enviably rich heritage and banking tradition, which has shaped its business to become the leader across several markets in Africa and beyond. Our parent bank, First Bank of Nigeria Limited has built and nurtured the FBNBank brand with a strong heritage of time-tested values of trust and excellence, backed by innovation over a period of 126 years. FBNBank Ghana Limited, formerly International Commercial Bank (ICB) has been in the business of banking for 24 years in this country. FBNBank has 21 branches and agencies in Ghana, employing over 400 Ghanaians and providing indirect employment for its numerous Ghanaian service provider companies.

fbadmin
May 15th, 2020
Posted In: 2020 Press Releases

FBNBank Ghana Ltd., a subsidiary of First Bank of Nigeria, has extended a hand of support to the 37 Military Hospital in the fight against the spread of COVID-19.

The support, which includes presentation of Personal Protective Equipment (PPEs) and cash donation forms part of FBNBank Ghana’s over GH¢500,000 contribution that was made to various institutions including the Awutu Senya East Municipal (ASEM) Health Directorate, Kasoa and through the Ghana Association of Bankers.

Making the presentation at the 37 Military Hospital, the Managing Director of FBNBank Ghana, Victor Yaw Asante reiterated the bank’s commitment to promote the health and wellbeing of Ghanaians. He said the bank found it necessary to support every effort to stop the spread of COVID-19 in Ghana and the world.

Mr. Asante emphasized the need for all to continue to observe the necessary preventive protocols; which include wearing of face masks, regular washing of hands with soap, use of hand sanitizers and maintaining social distancing to help contain the spread of the virus.

The FBNBank Ghana MD lauded the relentless dedication demonstrated by health professionals in dealing with COVID-19 and urged Ghanaians to avoid stigmatizing people that had been affected by the disease to avoid people keeping infections to themselves.

Since the outbreak of the COVID-19 pandemic, the FirstBank Group has spent over US$2,000,000 in interventions to support the health sector, especially relating to testing, isolation, treatment and the provision of Intensive Care Unit (ICU) facilities in Nigeria and countries in which FirstBank of Nigeria Limited subsidiaries provide banking services.

Receiving the items, Brigadier General Dr. Nii Adjah Obodai, Commanding Officer of the 37 Military Hospital expressed appreciation to the FBNBank Ghana Managing Director and wished the bank well.

 

About FBNBank Ghana

FBNBank Ghana Limited is a member of First Bank of Nigeria Limited Group. FBNBank Ghana Limited (FBNBank), a subsidiary of First Bank of Nigeria Limited, has 21 branches and agencies in Ghana with over 400 staff and offers universal banking services to individuals and businesses. FBNBank Ghana Limited was formerly International Commercial Bank (ICB) and has been in the business of banking for 24 years in this country. FBNBank Ghana is part of the trade hub that has grown economies for 126 years across Africa, Europe and China.

From left to right: William A. Neequaye, Head, Commercial Banking, Victor Yaw Asante, Managing Director, Brigadier General Nii Adjah Obodai, Commanding Officer, 37 Military Hospital, Semiu Lamidi, Chief Financial Officer & Mohammed Ozamah, Chief Risk Officer

fbadmin
May 6th, 2020
Posted In: 2020 Press Releases

It is common to record changes in business performance as a result of unforeseen situations. Such will be the case for this COVID – 19 pandemic which has directly affected over 2.6 million people across the world and has already resulted in the death of over 180,000 people.  A lot changed overnight, with businesses and organizations required to change the way they conduct business.

On March 9 2020, the World Health Organization (WHO) suggested people turn to cashless transactions to halt the spread of the virus, a piece of advice many governments and businesses acted upon.

In Ghana for example, one of the first steps we took was for banks to step up provision of digital banking alternatives for customers. Mobile money transactions were also made cheaper and more flexible by Telcos. As a result, transactions that could be handled online have been moved online. In addition, working from home, which many employers dread due to possible productivity loss has become routine with employees also having to adjust to a new work culture.   There will be enough time to focus on the future of banking post COVID – 19 but it is reasonable to already start some discussions on what the future has in store.

According to Mr. Victor Asante, the Managing Director of FBNBank Ghana, many of the changes caused by the global pandemic especially to business operation and regulations should become the new normal after Coronavirus pandemic.

“Why would banking move back to pre-Coronavirus mode of operation when the potential for digital transformation has had such a significant lift? Why would a bank require a customer to visit a branch to complete routine transactions like account opening or loan application? Why would a customer want to revert to old ways of conducting banking transactions after experiencing the convenience of digital channels?” Mr. Asante asked rhetorically. He projected that “banks will implement their digital strategies ahead of their timetables and remain committed to the new methods in order to stay relevant in the banking and finance industry. The cashless economy agenda has been handed a great opportunity for accelerated implementation. The crisis of COVID – 19 is too good an opportunity for the cashless agenda and this in all probability should not be wasted.”

Banking transactions on mobile applications and other digital channels have increased significantly due to the pandemic. For instance, in the United States time spent on finance apps increased by 35% between December 2019 and March 2020 according to Liftoff (a Mobile App Marketing & Retargeting Company) while E – commerce increased by 25% between January 2020 and March 2020 according to Forbes Magazine (a global media company, focusing on business, investing, technology, entrepreneurship, leadership, and lifestyle). This validates the result of the 15th March survey of 1,000 customers by Lightico, a technology firm with focus on digitally transforming the connection between businesses and their customers. The result of the survey was that about 60% of the customers were more inclined to try a digital app. Similarly, the usage of blockchain payment apps have also increased. Everywhere in the world, coronavirus is expected to cause monumental growth in the use of mobile money transactions.

Mr. Asante believes that other payment channels aside mobile money will also record increased usage and will become more integrated into the payments system. Also, he thinks other aspects of banking such as relationships, retail banking and marketing may alter significantly post the COVID – 19 pandemic. According to him, “digital transformation powered by artificial intelligence (AI), which makes high level of personalization and real-time information dissemination a key part of product development, innovation and marketing will receive a huge boost”.

He however, cautioned against challenges that could emanate from the digitization process, especially fraud. The report of TransUnion’s global fraud and identity solutions division showed a 347% upsurge in account takeovers. In this regard, the MD of FBNBank acknowledged that as digital channels increase, so will the routes and opportunities that will be available to fraudsters. He therefore admonished banks and banking professionals to concern themselves with fraud management and prevention. He posited that “as banks transform technologically, fraudsters become more sophisticated. Therefore, as the industry is adopting faster and more convenient channels, banks now more than ever require potent fraud management strategies to stay ahead of the fraudsters”.

Cyber security’s place in banking and finance has just shot up to number one on the risk agenda. The issue of cost of business is another area he commented on, drawing attention to the fact that Banks would have to accelerate spending plans on digital platform roll out “as the issue has moved from just being a competitive advantage to that of health and safety”. Digital platforms used to be about banking convenience, but now all of a sudden it is also a health issue. He also reckoned there will be strict regulation and supervision to match the times. “This too shall pass,” concluded Mr. Asante, quoting the now very popular phrase.

fbadmin
May 5th, 2020
Posted In: 2020 Press Releases

As part of FBNBank Ghana’s commitment to mitigate the impact of the emergence of COVID-19 on the operations of the bank’s customers and to support industry, the bank has announced some relief packages.

Effective Wednesday, April 1, 2020, FBNBank Ghana has provided extensions and repayment moratorium to some customers whose businesses have been affected by the COVID-19 pandemic. In addition, the bank has reduced its lending rate by 2 percent per annum for all qualifying borrowing accounts. The Bank has also removed all charges on interbank and mobile money transfer on its E – payment platforms. This is in response to the measures government put in place together with the central bank to cushion businesses in the wake of the tailspin in economic activity as a result of the coronavirus pandemic.

FBNBank Ghana’s Group Head for Business Development, Azubike Obi said the bank knows and understands the needs of its customers, and therefore, assures them of FBNBank’s preparedness to provide them with the necessary support as much as possible, to ensure the continued growth of their businesses and worth. While urging all to stay home, stay safe and use FBNBank Ghana’s digital channels for their transactions, Azubike lauded the government’s efforts to stop the spread of the coronavirus in the country and acknowledged the strong sense of dedication demonstrated by our health professionals in tackling COVID-19.

 

By: Azubike Obi, Group Head, Business Development, FBNBank Ghana

fbadmin
April 7th, 2020
Posted In: 2020 Press Releases

Management of FBNBank Ghana Limited has assured the public that notwithstanding the outbreak of COVID-19 as a result of which movement has been restricted in parts of the country, all its branches remain open to provide services.

According to a statement on the bank’s website, the Bank noted that: “following the government’s enhanced response in the fight against the spread of COVID-19, FBNBank Ghana, in putting customers first, will continue to offer a full range of banking services at all the bank’s branches from 9am to 3pm on weekdays to serve customers.”

The statement added that there will be Saturday banking for branches that open on Saturdays from 10am to 2pm while its two agencies at Diamond House, PMMC and Kasoa will be closed. Even so, customers that desire to do transactions can use FBNBank Ghana’s digital channels like the ATMs, Quick Banking *894#, FBN Mobile and Online Banking channels.

“We have implemented all necessary health and safety measures across these branches to keep you safe at all our locations,” the statement read.

In keeping with observing social distancing, in the fight against the spread of COVID-19, the bank has implemented a business continuity plan which required that 50% of staff work from home permanently. The other 50% of staff alternate with a maximum of 25%-30% of staff working at any one time in the office.

fbadmin
April 1st, 2020
Posted In: 2020 Press Releases

FBNBank Ghana takes this opportunity to assure you that in the wake of the reported coronavirus cases, we have put in place measures to keep you safe at our branches and offices. It is important that in addition to measures we have put in place to keep you safe at our branches, you take multiple steps to minimize health risks to yourself and your communities.

We urge you to cooperate with the protocols put in place at our branches. Wash your hands thoroughly and regularly with soap under running water or use sanitizers before and after you visit our branches for transactions. The same should apply when you use our ATMs.

We remain open to offer you convenience so please do use our ATMs, FBN Mobile, Quick Banking *894# and Online Banking channels.

Remember to wash your hands regularly and avoid touching your face with your hands. Social distancing is also recommended and therefore avoid physical contact and close meetings as much as you can.

Finally, if you suspect you have been around anyone showing Flu-like symptoms or you are experiencing Flu-like symptoms yourself, reach out to a medical facility for assistance or call any of these national emergency numbers  050949770005584398680800110555 (Toll free). Let us know if you need additional assistance.

fbadmin
March 18th, 2020
Posted In: 2020 Press Releases
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