First Bank of Nigeria (FBN) Holdings Plc has taken a bold step towards creating a unified identity with its latest announcement of a name change to First Holdco Plc. The rebranding initiative received full shareholder approval during the 12th Annual General Meeting (AGM), held virtually on November 14, 2024.
In a statement released over the weekend, the company’s secretary, Adewale Arogundade, emphasized that the rebranding extends to all subsidiaries under FBN Holdings. The resolution aims to enhance the institution’s corporate identity, making it more streamlined across its operations.
The new name will see the company legally referred to as First Holdco Plc, with its brand name transitioning to FirstHoldco. The statement noted: 
“That the change of legal and brand names should be extended to the subsidiaries of FBN Holdings Plc.”
Shareholders Back Ambitious N350 Billion Capital Raise
In addition to approving the rebranding, shareholders endorsed a plan to raise N350 billion to boost the bank’s investment capacity. The capital injection will come through a mix of public offerings, private placements, and rights issues.
This move signals First Bank’s commitment to maintaining its market leadership and expanding its operations both within and beyond Nigeria.
The company plans to amend its Memorandum and Articles of Association to reflect the new name and expanded share capital once the process is finalized.
What Does This Mean for Customers?
This rebranding represents more than just a name change. It reflects First Bank’s dedication to staying competitive in an evolving financial landscape. Customers can expect a more cohesive brand experience across all subsidiaries, both in Nigeria and internationally.
First Bank’s strategic direction also includes embracing technological advancements, as seen in its recent system migration to a cloud-based platform. While the transition caused temporary disruptions in October, the bank assured customers of improved efficiency and service delivery moving forward.
With its rich legacy as one of Nigeria’s oldest banks and its continued commitment to innovation, First Holdco is poised to remain a formidable player in the African financial market.
Do you think this rebranding will strengthen First Bank’s position in the financial industry? Share your thoughts in the comments below.
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