FBNBank Ghana repositioned to aid Ghana's economic development agenda - Dr. Adesola Adeduntan

FBNBank Ghana repositioned to aid Ghana's economic development agenda - Dr. Adesola Adeduntan

The Chief Executive Officer (CEO) of First Bank of Nigeria Limited and Subsidiaries, Dr. Adesola Kazeem Adeduntan (FCA), has disclosed that FBNBank Ghana is well-capitalized to help drive Ghana’s economic growth and development agenda. Dr. Adeduntan who recently paid a day’s working visit to Ghana to interact with the Management and Staff of FBNBank introduced Victor Asante as the new Managing Director of the Bank and revealed that Ghana remains a critical part of the Bank’s overall strategy of becoming a leading international financial services group in Sub-Saharan Africa.

Touching on a wide range of issues in relation to the Bank’s operations and contribution to the Ghanaian economy, the First Bank of Nigeria Limited and Subsidiaries CEO (FBNBank Ghana’s parent bank) disclosed that “the recapitalization of FBNBank Ghana has repositioned the bank to be able to undertake large ticket transactions whilst the enhancement of the regulatory single obligor limit has created space for us to undertake big ticket project financing.”

“We also have an expanded risk acceptance limit and target market and part of our group’s drive is to do more in the real sector space, supporting manufacturing and infrastructure projects with good cash flow potential” Dr. Adeduntan added.

According to the First Bank of Nigeria Limited and Subsidiaries CEO, “the Ghanaian economy is reasonably big to absorb the new investment in equity and we are willing to support the course of the government as it impacts the growth in GDP, reducing unemployment and most importantly, developing the real sector of the economy for continued national development.”

Victor Yaw Asante, MD of FBNBank Ghana said “there is a need for the bank’s staff that is predominantly youthful to uphold a culture of progressive performance that would establish the FBNBank Ghana brand as a mark of excellence that meets the needs of our valued customers to the extent that FBNBank becomes the preferred bank.”

FBNBank Ghana is one of the banks that has met the Bank of Ghana’s new minimum capital requirement of GH¢400 million and, among other things, the bank has strengthened its corporate governance and ensured the availability of technological infrastructure to enable it deploy innovative products and services to meet its customers’ needs.

The bank, which has evolved over the last 125 years, remains relevant to the needs of over 19 million customers in the jurisdictions it operates in sub-Saharan Africa, Europe and Asia. FBNBank Ghana is part of its parent bank, First Bank of Nigeria Limited’s trade hub that provides a comprehensive range of financial services to individuals and businesses and the bank has accordingly increased its channels in the country to facilitate a more convenient banking experience for its customers. Such channels include the roll out of a mobile banking app, online banking, the establishment of bill payment platforms, VISA and Verve acquisition for the bank’s on premise and offsite ATMs.

Moreover, customers of the Bank are able to do interbank transfers and mobile money transactions.