First Bank Nigeria Holdings, FBNH, has emerged the Holding Company of the year in Nigeria.
The Nnamdi Okonkwo-led Holder won the award at the New Telegraph Awards that took place last Friday in Lagos, barely three months after it best others to emerge winner in the Banking and Other Financial Institutions Awards, BAFI awards.
’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,’ Okonkwo, the Group Managing Director, GMD, said last October while reacting to the BAFI awards.
According to the organizers of the latest award, the parent company of Nigeria’ premier bank, First Bank of Nigeria Limited, FBNL was selected as the winner among other top holding companies in the country based on verifiable performance during the last financial year.
The conglomerate had last year won the same award at the BAFI, organized by BusinessDay Media Limited.
The BAFI organizers said basic metrics were considered before awarding FBNH the prestigious prize: ‘‘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.’’
