FBN Holdings Plc has won the Holding Company of the Year Award at the Banking and Other Financial Institutions Awards ceremony, BAFI, held over the weekend at the Lagos Continental Hotel, Victoria Island, Lagos. The prestigious awards in its eleventh year, is organised by BusinessDay Media Limited.
Over the years, the award has become established as the benchmark of distinction for institutions in the Nigeria’s financial services landscape.
While providing context for the award won, the BAFI awards committee considered the following criteria: ‘‘Strong Financial Performance. FBNHoldings has consistently demonstrated strong financial performance, showcasing its ability to effectively manage its diverse portfolio of subsidiaries and drive sustainable growth. Furthermore, its solid financial results, including profitability, asset quality, and capital adequacy, reflect its robust financial management and strategic decision-making.’’
Added to this consideration by the committee is FBNHoldings Group’s diversified business portfolio, as a leading financial holding company, with subsidiaries operating in various sectors such as commercial banking, insurance, asset management, and investment banking. The Committee noted that ‘‘it has created a well-rounded ecosystem that offers a wide range of financial products and services to cater to different customer needs.’’ Coupled with the foregoing, is the strategic vision and leadership it enjoys at the moment. These have been instrumental in the success recorded so far.
The company has also demonstrated a clear understanding of market dynamics, regulatory frameworks, and customer expectations. Its ability to adapt to changing market conditions, drive innovation, and make strategic investments has positioned it as a leader in the financial holding space.
On the final consideration, BAFI Awards committee noted that ‘‘the company has established a strong corporate governance framework and maintains a high level of compliance with regulatory requirements. It upholds ethical standards, transparency, and accountability in its operations’ which has resulted in the commitment to good governance practices that ensures the protection of stakeholders’ interests and enhances its reputation within the financial industry’’. These justifications highlight FBNHoldings achievements and made it imperative for it to win this lofty award for the sixth consecutive year.
The Group Managing Director of FBN Holdings Plc, Nnamdi Okonkwo while echoing the criteria for the award his company won, stated that ’the diversity and quality of our portfolio, which cuts across, commercial and merchant banking, asset management, trusteeship, capital markets, insurance brokerage, pensions fund administration provides the veritable platform for our Group to impact the Nigerian economy positively, serve our customers excellently and with the unflinching commitment of our highly motivated workforce’.
Appreciating stakeholders across the FBNHoldings Group, Mr. Okonkwo said “to all our stakeholders, including investors, shareholders, customers and staff, it is noteworthy to reiterate that an award of this pedigree serves as the springboard for us to continue to provide the gold standard of service delivery. This award is dedicated to all our stakeholders, irrespective of where they may be across the world.”
About FBN Holdings
FBN Holdings Plc is a leading African banking and financial services group serving individuals, businesses, organisations and governments in leading markets across the continent and globally. FBNHoldings’ principal subsidiary is First Bank of Nigeria Limited (FirstBank), Nigeria’s foremost financial institution and leading banking services provider. FirstBank has forged an incredible partnership with its people and built an enduring heritage through a vast array of seasons and societies, to remain an icon of Gold Standard in today’s financial services industry in Africa and beyond.
