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SHAREHOLDERS COMMEND FBNHOLDINGS FOR A SUCCESFUL AGM AS MANAGEMENT ASSURRES OF A BRIGHTER FUTURE
The Chief Executive Officer, FirstBank, Dr. Adesola Adeduntan; Group Managing Director, FBN Holdings Plc., Mr. UK Eke; Group Chairman, FBN Holdings Plc., Dr. Oba Otudeko, CFR and Company Secretary, FBN Holdings Plc. Mr. Seye Kosoko, at the 7th Annual General Meeting of FBN Holdings Plc held in Lagos..
The shareholders of FBN Holdings Plc have been assured of brighter future and enhanced dividend at the 7th Annual General Meeting (AGM).
Speaking at the meeting in Lagos, Dr Oba Otudeko, FBN Holdings Group Chairman, assured the shareholders that the company had mapped out strategies aimed at ensuring enhanced value creation for the future.
Otudeko said that the board and management would work together to create shareholder value and build strong foundation for the future.
“We are not resting on our laurels, and our renewed approach to synergy and innovation will be major drivers to unlocking earnings potential for our group.
“We believe that our efforts to integrate our offerings and provide end-to-end solutions for our customers will create a competitive advantage in our markets,” he said.
Also speaking, Mr Urum Kalu Eke, Group Managing Director FBN Holdings, said that the company was committed to greater exploits in the future in its drive to deliver value to its shareholders.
” I would like to reiterate our promise to you and the entire market that 2019 represents for us the year of inflection.
“All leading indicators, derived from our numbers, point to the commencement of growth across businesses, markets and indices.
“As we transition to a new strategic planning cycle post-2019, we are confident that the focused execution of our strategy, investment in future-enabling technologies, development of our talents and our re-engineered processes to repositioning the group for ultimate benefit of the shareholders,” Eke said.
He also commended the shareholders for their unwavering support to the group over the years.
The company for the period under review posted a profit after tax of N59.7 billion compared with N45. 5 billiin achieved in the comparative period of 2017, an increase of 31.4 per cent.
Profit before tax stood at N65. 3 billion against N54.5 billion recorded in 2017, representing a growth of 19.7 per cent.
Gross earnings stood at N583.5 billion compared with N595. 4 billion in 2017, a decrease of two per cent.
Its total assets rose by 6.3 per cent from N5.2 trillion in 2017 to N5.6 trillion during the review period.
Similarly, customers deposits expanded by 10.9 per cent from N3.1 trillion in 2017 to N3.5 trillion in 2018.
The year also recorded reduction in impairment charges which declined to N87. 3 billion from N150.4 billion, representing 42 per cent drop and a proof to the improving loan book of the commercial bank.
He assured the shareholders that the board and management had restructured the entire group for more sustainable growth.
“For liquidity perspective, you have a strong institution that would pay dividend on a regular basis.
“We have built capital buffet at the commercial bank and the other entities are well capitalised also.
“2019 promises to be a much better year than 2018; all operating entities are in safe hands with good management teams.
“NPL ratio should be at single digit by end of 2019, we will pursue recovery and when it happens the commercial bank will contribute to dividend payment,” he stated.
Eke noted that significant growth in the bottom line was due to several factors including the improved risk management processes which endured that impairment changes dropped year-on-year.
He , also, attributed the growth to implementation of servers cost containment initiatives during the period.
Also speaking, Dr Adesola Adeduntan, First Bank of Nigeria Limited, Chief Executive Officer, said that recovery efforts on all accounts provisioned were in progress.
Adeduntan said that the bank would ensure that no kobo would be left in the hands of third party, noting that, they bank would work harder to resolve all the legacy NPL.
He said that the number of banking agents had increased to 20,000, adding that the figure processed through agency banking platform reached N1 trillion as at last week.
The shareholders at the meeting approved a total dividend of N9.3 billion, which translated to 26k per share.
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Access Bank Appoints Mr. Innocent Ike As Substantive GMD/CEO, Recognises Contributions Of Ms Bolaji Agbede As Acting CEO
Access Holdings (‘Access Holdco’ or ‘the Company’) today announces the appointment of Mr. Innocent Ike as the substantive Group Managing Director/Chief Executive Officer of the Company, effective August 29, 2025, following the receipt of regulatory approval.
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ZENITH BANK MARKS 35 YEARS ANNIVERSARY IN GRAND STYLE, RECOGNISES PIONEER CUSTOMERS AND LONG-SERVING STAFF
L-R: Representative of the Nigerian First Lady and Secretary to the Lagos State Government, Barr. Bimbola Salu-Hundeyin; Chief of Staff to Ekiti State Governor, Mr. Adeniyi Adebayo; Group Managing Director/CEO, Zenith Bank Plc, Dame Dr. Adaora Umeoji, OON; Governor of Lagos State, Mr. Babajide Sanwo-Olu; Wife of the Founder & Chairman of Zenith Bank Plc, Mrs. Kay Ovia; Vice President, Federal Republic of Nigeria, Senator Kashim Shettima, GCON; Founder & Chairman, Zenith Bank Plc, Jim Ovia, CFR; Governor of Borno State, Prof. Babagana Zulum; Governor of Ondo State, Mr. Lucky Aiyedatiwa; Deputy Governor of Osun State, Prince Kola Adewusi; Chairman of Access Holding Plc, Mr. Aigboje Aig-Imoukhuede, CFR; Minister of Industry, Trade & Investment, Dr. Jumoke Oduwole; and the Publisher of Thisday Newspaper, Prince Nduka Obaigbena at the Zenith Bank 35th Anniversary and Chairman’s Dinner held at Eko Hotel & Suites, Victoria Island, Lagos, at the weekend.
Amidst pomp and pageantry layered with a mixture of glitz and glamour, Zenith Bank Plc marked its 35th year anniversary with a commemorative Chairman’s Dinner at the Eko Convention Centre, Eko Hotels & Suites, Victoria Island, Lagos on Friday, August 15, 2025. In recognition of their immense contributions to the success of the brand, the bank also presented commemorative awards and plaques to pioneer customers and long-serving staff, who have served meritoriously for 25 years and above. The ceremony brought together key stakeholders of the bank including customers, staff (past and present), regulators, partners, and friends, who all came together to celebrate 35 years of excellent and innovative banking services that has propelled the banking giant to the peak of Nigeria’s financial industry. Among the eminent personalities who graced the occasion were the Vice President, Federal Republic of Nigeria, Senator Kashim Shettima, GCON; Governor of Lagos State, Mr. Babajide Sanwo-Olu; Governor of Ondo State, Mr. Lucky Aiyedatiwa; Governor of Taraba State, Dr. Agbu Kefas; Governor of Borno State, Prof. Babagana Zulum; Governor of Delta, Rt. Hon. Sheriff Oborevwori, who was ably represented by the Deputy Governor, Sir. Monday Onyeme; Alhaji Aliko Dangote, GCON; and former governors Peter Obi and Udom Emmanuel (also an alumnus of Zenith Bank).In her welcome address, the Group Managing Director/ Chief Executive of Zenith Bank Plc, Dame Dr. Adaora Umeoji, OON applauded the Founder and Chairman, Jim Ovia, CFR for his foundational role in building the structures for what has today become a shining example of excellence in the Nigerian banking industry and a globally recognised financial institution. She described him as “the Godfather of modern banking and the Nostradamus of our time, who through sheer tenacity, foresight, and uncompromising integrity transformed a modest vision into the financial powerhouse we celebrate today”.In his goodwill message, the Vice President, Federal Republic of Nigeria, Senator Kashim Shettima, GCON, a proud alumnus of the bank, praised the Founder and Chairman of Zenith Bank Plc, Jim Ovia, CFR for being at the heart of the very successful brand that today stands as Nigeria’s largest bank by Tier-One capital. According to him, “Long before technology became the bloodstream of global finance, Jim Ovia had already woven it into the DNA of Nigerian banking industry. He introduced innovation not as a fashion but as a philosophy, placing Zenith Bank on a path where excellence is not an ambition but a standard. Yet his true signature is not only on the balance sheet. For Jim Ovia, the people make an institution. His greatest investment has been in human capital – in transferring his experience and sense of adventure to generation after generation of bankers and investors forged at Zenith Bank”.
Also speaking at the event, the Founder and Chairman of Zenith Bank, Jim Ovia, CFR expressed its immense appreciation to all guests for joining the bank in celebrating this momentous occasion. He thanked the bank’s esteemed customers and shareholders for their trust, confidence and shared vision; the regulators, for their guidance over the years; his friends and partners, for being a constant source of strength; the Zenith Bank family led by the exceptional Group Managing Diector/CEO, Dame Dr. Adaora Umeoji, OON, for their loyalty and commitment; and his beloved wife and family for their love and support.Founded in May 1990, Zenith Bank has grown from humble beginnings into one of Africa’s leading financial institutions with branches across the 36 states of the federation and the FCT, Abuja as well as subsidiaries in the United Kingdom, Ghana, Sierra Leone, Gambia, France, UAE and a representative office in China.
FirstBank, the West African premier financial institution and financial inclusion services provider, has emerged as Nigeria’s Best Bank for Environmental, Social, and Governance (ESG) at the prestigious Euromoney Awards for Excellence 2025, held recently in London. This marks FirstBank’s second consecutive win in the ESG category, affirming its leadership in sustainable finance and responsible banking across Nigeria.
The Euromoney Awards for Excellence are regarded as one of the most coveted accolades in the global financial industry. The highly competitive selection process involves rigorous analysis and assessment, measuring performance against strategic and impact-oriented criteria.
The Bank earned the award through its deepened sustainability commitments embedded across its operations and community initiatives. In 2024, FirstBank screened 237 transactions worth over ₦3 trillion for sustainability risks, integrating ESG considerations into its credit framework.
Among its flagship sustainability initiatives, FirstBank commenced a tree planting campaign in partnership with Nigeria Conservation Foundation (NCF), planting over 30,000 trees in 16 locations across Nigeria. This was the first phase of its 50,000-tree initiative, projected to absorb approximately 720 tonnes of CO₂ by the end of 2025, contributing to climate resilience and supporting biodiversity preservation.
FirstBank has been proactive in gender inclusion through the Gender Market Strategy, disbursing over ₦43 billion FirstGem loans to women-led businesses in 2024. The Bank’s commitment to inclusive banking saw a significant increase in the worth of transactions facilitated by FirstMonie agents to over ₦9 trillion.
The Bank prioritises ESG/sustainability capacity building, evidenced by the training of over 9000 employees, and its webinars and workshops reaching over 2,000 SMEs and corporates. The bank’s investment in leadership for over 2,000 female employees through the FirstBank Women Network has demonstrated a dedicated structural commitment to cultivating a knowledgeable and diverse workforce catering to the dynamic ESG landscape.
Commenting on the award, the Chief Risk Officer of the Bank as well as the Chairman of the FirstBank Sustainability Committee, Patrick Akhidenor said, “We are honoured to receive this prestigious award for the second time in a row, which is a validation of our efforts to create a sustainable and inclusive future for all our stakeholders. Our approach to sustainability is hinged on three pillars: education, health and welfare; diversity and financial inclusion; responsible lending, procurement and climate initiatives”
He added: “We remain focused on driving impact through purposeful initiatives and inclusive growth, ensuring that our ESG efforts continue to create meaningful change in communities across Nigeria and beyond.”
The continued success in ESG and sustainability is driven by FirstBank’s vision to be Africa’s bank of first choice, leading with purpose, responsibility, and innovation.
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