FBNBank Ghana Limited, a subsidiary of First Bank of Nigeria Limited has commissioned its new Osu branch, located on the ground floor of the Alpha One building on the Oxford Street, Osu.

The pursuit of FBNBank Ghana’s “You First” customer proposition, the opening of the ultra-modern Osu branch forms part of the bank’s strategy to bring financial services closer to its customers to make products and services available to them.  The opening of the new branch is in recognition of the fact that there should also be comfortable and convenient touchpoints for clients occasionally needing to physically interact with the bank.

Welcoming guests to the event, the FBNBank Ghana Managing Director, Victor Yaw Asante disclosed that Osu in general and Oxford Street, in particular, is a location of significance because of the high throughput of tourists who occasionally require branch banking. He further stated that the bank has been focused on driving a digital agenda, which aims to leverage new and evolving technologies to facilitate access to everyday financial services for the bank’s consumers and businesses alike, especially in these times. (more…)

naugoknow
March 10th, 2021
Posted In: 2021 Press Releases

Accra, January 09, 2021 – FBNBank Ghana has today announced the commencement of activities marking the celebration of its 25th anniversary in the country. This was made known by the Managing Director of the Bank, Victor Yaw Asante after a walk which covered three routes in Accra and one route in Kumasi covering a total of 28km with participants including staff, customers and clients.

Speaking after the walk in Accra, Mr. Asante said that “over the past 25 years, the Bank has consistently built relationships with customers, clients, staff and other stakeholders, focusing on the fundamentals of good corporate governance, strong liquidity, excellent risk management and exemplary leadership. He added that in all its dealings, the Bank’s primary focus had been on these stakeholders; a position which emanates from its brand promise of ‘putting you first.’

Mr. Asante added that over these years, the Bank has nurtured these relationships in order to deepen its engagement with stakeholders and to be able to contribute more significantly to the country’s development.

Activities lined up to celebrate the Bank’s milestone anniversary include a thought leadership forum to discuss and find solutions to pertinent socio-economic issues, customer and client engagement sessions and corporate responsibility and sustainability initiatives targeted at the deprived and needy in the communities. In all, it will be an opportunity for the Bank to reassert its presence on the market building on the momentum generated in its business over the past years. Staff of the Bank are also gearing up for a host of internal activities which would across board enable them to live the Bank’s values.

 

About FBNBank Ghana Limited

FBNBank Ghana Limited is a member of the First Bank of Nigeria Limited Group. The Bank has 20 branches and 2 agencies in Ghana with almost 500 staff and offers universal banking services to individuals and businesses. FBNBank Ghana Limited has been in the business of banking for 25 years in Ghana and is part of the trade hub that has grown economies for over 126 years across Africa, Europe and China.

 

naugoknow
March 10th, 2021
Posted In: 2021 Press Releases
agent banking

Financial institutions in Africa seek to create innovative value propositions and customer-friendly products and services, not only to generate client enrolments but also to bring populations into the financial mainstream for greater socio-economic good. Financial Inclusion remains a challenge in Sub Saharan Africa. Building payment and banking networks using the traditional brick-and-mortar approach is a very arduous task. Easily accessible financial products provided by delivering flexible value-added services at non-traditional bank locations have become a solution to financial inclusion at all levels.

In the developing world, markets are fragmented and a large part of the population is dispersed. Financial literacy is still low, especially among low-income segments and branch penetration is still poor. Financial institutions have realized the lack of sufficient service points in remote and rural markets, however, new branch and ATM infrastructure costs are expensive, especially considering the high-volume, low-value transactions, specific for such markets.  The consequences are congested branches and limited scalability opportunities.

Agent banking has subsequently been positioned as a channel for providing that far-reaching and low-cost access to financial services for the underbanked populations of society. This initiative takes banking closer to the immediate vicinity or doorstep of semi-urban and rural dwellers. Customers and non-customers of financial institutions can now safely visit agents in their own vicinity at their own convenience, at extended service hours. A segment of the bankable population can now conveniently deposit and withdraw funds, make insurance premium payments and pay bills, even with no formal ID thanks to the integration of biometrics into the services provided by financial institutions. Agents have become the focal point for driving awareness of the agent banking channel and the services being provided by financial institutions, acquiring new customers and providing assistance to customers where needed.

Today, due to technology it is not surprising that third-party agents and merchants have become an integral part of the digital financial service ecosystem, especially in developing markets like Ghana. For many customers in Ghana, Agent banking has become a channel-of-choice due to the convenience it offers, especially in terms of proximity to customer residence or business. This growing acceptance of the model and its self-service nature is gradually leading to a shift from branch banking in Ghana. Some financial institutions have taken the lead in this and are at the point of expanding their agents’ portfolio beyond basic cash-in/out transactions into customer onboarding, E-loans, Bill payments, and more.

FBNBank Ghana Limited, one of the fastest-growing banks in the country, has introduced its Agent banking channel in a move to drive financial inclusion and to expand its reach by offering affordable and convenient banking to Ghanaians.

The Bank is riding on the success story of its parent bank, FirstBank of Nigeria Limited which successfully implemented this initiative, FirstMonie, in Nigeria in 2017. With over 67,000 Agents in operation, the FirstMonie agents are providing world-class financial services through cutting edge technology deployed by the Bank.

FBNBank Ghana is migrating this best practice by partnering with existing businesses in various locations across the country to build a network of agents who will operate “agencies” that will offer selected banking services to customers. This initiative aligns with a statement in the World Bank economic updates for Ghana in its 2019 report which states that; “with the use of innovative technology and approaches, universal financial access is an attainable target in Ghana.” FBNBank Ghana Limited is therefore poised to bridge the gap between the banked and unbanked population through the successful implementation of the Agent banking channel which is supported by a robust technology infrastructure.

The Bank is confident that the successful roll-out of the Agent banking channel will lead to an increase in the institution’s capacity to provide convenient banking services to existing and potential customers around the country.

The Bank will be working in partnership with Corporates, SMEs, and Individuals to take banking to the communities within Ghana. This partnership will also provide additional revenue streams for the low-income earners living within the various target communities. The innovative service offerings available on the platform include: Account Opening, Cash Deposit, Cash Withdrawal (FBNBank and Other Banks), Funds Transfer (FBNBank and Other Banks), Mobile Money services and Value-Added Services such as airtime top-up, bills payment, remittance, card services, etc. Currently, FBNBank Ghana’s Agents are located in the Accra-Tema Metropolis, Adum, Suame and Techiman. The bank is working on enrolling more agents in other regional and district capitals of the country onto the FBNBank Ghana Agent Banking platform.

The FBN Bank Agent network is modeled on the FirstMonie brand which controls the largest agent banking network in Nigeria. Through this brand, the FirstBank Group, the parent company of FBNBank Ghana, is offering innovative products to meet the changing needs of our customers in the informal economy in West Africa.

The FirstBank Group remains a most formidable and experienced Bank in Africa with over 126 years of impeccable banking services availed to its customers. Drawing from our parent’s in-depth knowledge and banking experience that spans over a century, our various pioneering experiences in electronic banking transaction processing, and strategic alliances with key service providers and processors, FBNBank remains committed to bringing its experience to bear in achieving quantum leaps in the provision of financial services in Ghana.

naugoknow
March 10th, 2021
Posted In: 2021 Press Releases

February 12, 2021, Accra – In line with its agenda of supporting the SME sector, FBNBank Ghana is organising a trade forum for its clients which would help position SMEs to benefit from the African Continental Free Trade Area (AfCFTA).

 

The event which would be virtual forms part of the Bank’s 25th anniversary celebrations and is dubbed “FBNBank@25 Virtual Trade Forum.”  It is scheduled to be held on Tuesday February 16, 2021 and would feature representatives of Ghana Link Network Services and the Customs Division of the Ghana Revenue Authority who as resource persons, will provide education and lead discussions on the guidelines and procedures for registration on the Integrated Customs Management System (ICUMS) under AfCFTA.

 

Commenting on the rationale for the Forum, Victor Yaw Asante, FBNBank Ghana’s Managing Director and Chief Executive Officer said, “AfCFTA provides enormous opportunities for Ghana’s SMEs considering it is offering the largest free trade area in the world and brings together 1.3 billion consumers across 55 African countries with a combined gross domestic product (GDP) valued at US$3.4 trillion. We at FBNBank Ghana are excited at this development. Through this trade forum, we will be delivering on our declared support to SMEs by making it possible for importers and exporters to be properly acquainted with Ghana’s customs management system in order to be better placed to benefit from the huge opportunities which AfCFTA brings.”

 

AfCFTA is an Africa Union (AU) initiative that opens up the continent commercially by offering an African free trade area across 55 countries and thereby increases intra-African trade by up to 52.3 per cent. It is estimated that it has the potential of lifting 30 million Africans out of extreme poverty. This will be through the creation of jobs as a result of the expanded market, increase in real wages for unskilled and skilled workers in agricultural and non-agricultural sectors, improved access to trade opportunities for women, promotion of industrialisation and increased competition among African industries on the global stage.

 

SMEs in Ghana will be lining up to benefit from the roll-out of AfCFTA and will therefore have to secure their registration on the country’s Integrated Customs Management System (ICUMS) in order to ensure efficient import and export of goods. ICUMS is Ghana’s e-customs system and it utilizes state-of-the-art cloud computing technology to provide a swift and secure customs clearance process. It is a real single window system which ensures accurate and fair taxation of all imports and exports at ports and borders while maintaining international trade protocols and controlling illegal activities.

 

FBNBank Ghana, following the agenda set by its parent company, First Bank of Nigeria Limited, will be supporting their clients to take full advantage of AfCFTA. Over the years FBNBank Ghana has supported SMEs in several sectors including manufacturing. Considering FBNBank Ghana’s track record, the FBNBank@25 Virtual Trade Forum should see a host of SMEs in attendance who will be focused on benefiting from being placed at the heart of the Bank’s business as per its brand purpose.

 

About FBNBank Ghana Limited

FBNBank Ghana Limited is a member of the First Bank of Nigeria Limited Group. The Bank has 20 branches and 2 agencies in Ghana with almost 500 staff and offers universal banking services to individuals and businesses. FBNBank Ghana Limited has been in the business of banking for 25 years in Ghana and is part of the trade hub that has grown economies for over 126 years across Africa, Europe and China.

naugoknow
March 10th, 2021
Posted In: 2021 Press Releases

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.

naugoknow
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

naugoknow
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.

naugoknow
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

naugoknow
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.

naugoknow
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

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