First Bank Announces Rebranding to First Holdco Plc

First Bank of Nigeria (FBN) Holdings Plc, one of Nigeria’s oldest and most iconic financial institutions, has officially rebranded to First Holdco Plc. This change follows the approval of shareholders during the company’s 12th Annual General Meeting (AGM), held virtually on November 14, 2024.  

The resolution to adopt the new name, First Holdco Plc, was confirmed by Adewale Arogundade, the company’s Secretary, in a statement released over the weekend. Arogundade explained that the rebranding will extend across all subsidiaries of FBN Holdings, ensuring a unified corporate identity that aligns with the company’s evolving strategic goals.  

Why the Rebrand from First Bank?

The rebranding marks a significant milestone in FBN Holdings’ journey. The company stated that the name change reflects its commitment to aligning its corporate identity with its growth aspirations. By adopting the new name, First Holdco, the organization aims to consolidate its position as a holding company overseeing a diversified portfolio of financial services, ensuring clarity in operations and branding.  

In the official statement, the company emphasized the scope of the resolution, stating:  

“That there should be a change of the legal and brand names of the company from FBN Holdings Plc and FBN Holdings to First Holdco Plc and FirstHoldco, respectively. That the change of legal and brand names should be extended to the subsidiaries of FBN Holdings Plc.”  

The statement further authorized the directors to take necessary actions to implement the changes effectively, including complying with regulatory directives.  

What’s Next for First Holdco?  

The rebranding coincides with a period of rapid evolution in Nigeria’s financial sector. With this move, First Holdco Plc is positioning itself to compete more effectively, attract global partnerships, and optimize its operations for better service delivery. This transition is expected to boost stakeholder confidence and reinforce the company’s dedication to innovation and excellence.  

First Bank, founded in 1894, has consistently played a pivotal role in shaping Nigeria’s financial landscape. This latest transformation is a testament to its ability to adapt to changing times while maintaining its core values.  

The rebranding also reflects a growing trend among Nigerian corporations seeking to modernize their identities to remain relevant in an increasingly competitive global market.  

As First Holdco Plc embarks on this new chapter, stakeholders will be keenly observing how the rebranding translates into improved performance, stronger partnerships, and enhanced customer experiences.