First Bank Nigeria Harvests 3 awards at the IMF/World Bank Meeting

First Bank of Nigeria Plc, Nigeria’s pioneer and most reputable financial supermarket, has clinched three awards in the United States, being rated the Best Bank in Nigeria 2007. The three awards to be bestowed on the Bank, during this year’s World Bank/IMF meetings in Washington DC on October 19, 2007 by Global Finance (GF) are “Best Bank in Nigeria, Best Trade Finance Bank and the Best Foreign Exchange Bank for 2007”.

In a poll conducted by GF, the international financial publication based in New York, with input from industry analysts, corporate executives and banking consultants and technology experts in 24 countries around the world, FirstBank emerged the winner amongst 25 banks in Nigeria. This makes it the third consecutive year the Bank has won the awards.

Announcing the award from its New York headquarters, Joseph Giarraputo, GF President said emerging markets are attracting increased attention as the global economy expands, adding that “we have identified the banks that provide services to corporations seeking to take advantage of substantial opportunities for growth in a sometimes challenging environment and FirstBank is one of them.”

Among the criteria for choosing the winners are growth in profitability, strategic relationships, customer service, competitive pricing and innovative products. To receive the awards is a delegation of the Bank’s directors led by Alhaji (Dr) Umaru Mutallab, Chairman; Mr. J. M. Ajekigbe, Managing Director/Chief Executive; and Dr. Oba Otudeko, a director. Also on the team is Mr. Hafiz Bakare, Head Corporate Planning & Group Coordination. The awards ceremony would also be attended by international economic and political facilitators.

It would be recalled that the Bank, earlier in the year, unveiled a suite of retail and consumer products which are conceived to empower corporate and individual Nigerians financially to enable them meet business and personal needs.

Mr. Ajekigbe described the products as a “major feat in the Bank’s customer-oriented and innovative financial plans. This confirms the Bank’s interest in its customers, their lifestyles and businesses”. The products, he added, will enable the Bank contribute to the growth of customers’ and non-customers’ businesses, and also grow personal banking relationships.

Other winners in the Middle East and Africa category are Ahli United Bank(Bahrain), Standard Chartered Bank(Botswana); Commercial International Bank(Egypt); NIB International Bank(Ethiopia); Trust Bank(Gambia); Ghana Commercial Bank(Ghana); Arab Bank(Jordan); Barclays Bank of Kenya; National Bank of Kuwait; BLOM Bank(Lebanon) and Attijariwafa Bank of Morocco.

Also on the roll are Standard Bank of Namibia; BankMuscat of Oman; Qatar National Bank; Bank of Commerce, Development and industry; Samba of Saudi Arabia; Standard Bank of South Africa; Banque de Tunisie; National Bank of Dubai; Stanbic Bank Uganda; Standard Chartered Bank of Zambia and Stanbic Bank of Zimbabwe.

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