FBN Holdings Plc, one of Africa’s oldest and largest financial institutions, has announced its rebranding to First HoldCo Plc. This change, which will be implemented across all subsidiaries, marks a significant milestone in the company’s evolution.
The decision was ratified during the company’s 12th Annual General Meeting (AGM) held in November 2024. Shareholders approved the change of the legal and brand names from FBN Holdings Plc to First HoldCo Plc and FirstHoldco, respectively. The rebranding aims to unify the company’s diverse portfolio under a single identity, reinforcing its heritage and strengthening its position in the financial services industry.
“This transition represents more than a name change; it is a renewal of our purpose and vision,” emphasized Wale Oyedeji, Group Managing Director of FBN Holdings. “We are better positioned to meet evolving market demands while strengthening the trust that has defined our relationships for over a century.”
The rebranding reflects the company’s evolution from a single-bank entity to a diversified financial conglomerate. By unifying its diverse portfolio of businesses—including the iconic FirstBank, as well as its investment and insurance arms under the First HoldCo umbrella, the company aims to streamline its identity and better serve the evolving needs of its customers.
In addition to the name change, shareholders approved a substantial capital raise of up to ₦350 billion. This capital raise is intended to enhance the company’s capital structure and fortify its balance sheet, positioning First HoldCo for future growth and market leadership.
The rebranding is subject to regulatory approvals and underscores a crucial shift in the modern financial landscape. As technology disrupts traditional banking models and customer expectations evolve, financial institutions are increasingly compelled to diversify their offerings and enhance their customer experience.
FirstBank, a titan of the Nigerian banking scene since 1894, has witnessed the nation’s journey from colonial rule to independence and into the digital age. Its history is intertwined with the very fabric of Nigerian society. This rebranding, therefore, carries significant emotional weight, not just for the bank’s employees but also for countless Nigerians who have entrusted their financial well-being to FirstBank for generations.
The move to “HoldCo” reflects the company’s evolution from a single-bank entity to a diversified financial conglomerate. This structure allows for greater strategic flexibility, enabling the group to capitalize on emerging opportunities in areas like digital banking, wealth management, and fintech.
While the name FirstBank will continue to grace the branches and resonate with millions of customers, the rebranding to First HoldCo signifies a bold step towards a future where the company can effectively leverage its diverse strengths and deliver a seamless and integrated financial experience to its customers.
This transition is not merely a cosmetic exercise. It represents a commitment to innovation, customer centricity, and sustainable growth. As the Nigerian economy continues to evolve, First HoldCo is poised to play a pivotal role in shaping the future of finance in the country.
The company has assured its clients and stakeholders that the rebranding will not affect the quality of services offered. Instead, it is expected to enhance service delivery by providing a more cohesive and unified brand experience across all subsidiaries.
As First HoldCo Plc embarks on this new chapter, it remains committed to its core values of excellence, innovation, and customer satisfaction, building on its rich heritage to navigate the future of financial services in Nigeria and beyond.
