- FBN Holdings has rebranded to First HoldCo to unify subsidiaries
- With the rebranding, FBN Limited will be retained for the flagship business, while the new name will be adopted for other subsidiaries
- The Group Managing Director said the rebranding charts a bold course for the bank’s future
FBN Holdings Plc has announced its transition to First HoldCo Plc (FirstHoldCo) to unify its various subsidiaries, redefine its identity, and reinforce its longstanding heritage.
The decision follows a proposal made at the company’s 12th Annual General Meeting (AGM) on November 14, 2024, regarding the rebranding of the Holdco.
In a disclosure published on the Nigerian Exchange (NGX) on Thursday, February 13, and signed by its secretary, Adewale L.O. Arogundade, the group confirmed its transition to First HoldCo Plc.
It stated that the transformation would be implemented across all its subsidiaries.
The disclosure read, “The new name reflects a forward-looking vision rooted in a timeless legacy of trust, resilience, innovation, and exceptional service delivery.”
FBN Limited will be retained for the flagship business
The group also disclosed that as part of the transition and rebranding, First HoldCo Plc would retain First Bank Nigeria Limited for its flagship business.
It added that the transition includes the adoption of new and unified names for its other subsidiaries in asset management, capital markets, securities, trusteeship, and insurance brokerage.
FirstHoldCo noted that it plans to implement this name change throughout the group once the necessary regulatory approvals are obtained.
‘Rebranding charts a bold course for the future’
In his comments, the Group Managing Director, Wale Oyedeji, described the rebranding as a defining moment in First HoldCo Plc’s history.
Oyedeji said the rebranding charts a bold course for the future, stressing that the transition signifies a renewal of the company’s purpose and commitment to delivering world-class financial solutions.
He added that the rebranding will unify the company’s identity across subsidiaries and geographies, thereby strengthening its leadership position in Africa and sustaining its global presence.
“Locally, First HoldCo’s unified brand structure will enhance operational synergies and improve the clarity of our offerings, enabling the company to provide tailored solutions for businesses and individuals in Nigeria.
“On an international scale, it positions the Group as a formidable organisation, ensuring that we leverage opportunities in global markets to reinforce our role as a trusted partner in financial services,” Oyedeji stated.
Rebranding was mooted during the 12th AGM
FBN Holdings Plc had proposed to change its name to First HoldCo Plc during its 12th Annual General Meeting on November 14, 2024.
It noted that the process also involves rebranding its subsidiaries.
Shareholders reviewed a set of special resolutions that granted the company’s directors the authority to implement the name change, including necessary updates to the Memorandum and Articles of Association.
As First HoldCo Plc, the organisation functions as a financial holding entity and is among Africa’s larger financial services groups.
‘Vendors not customers”: FirstBank clarifies notice of system upgrade to the public
Meanwhile, TheRadar earlier reported that following reports in the media on Thursday, October 24, that FirstBank fixed October 26 for a scheduled system upgrade, the lender clarified that the notice was for its vendors and not customers.
In a statement on Friday, the bank stated that the notice about transitioning to a new cloud-based platform was intended for vendors only but was misinterpreted and incorrectly reported.
