Business First Bank Commences Banking Operations in Senegal

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First bank of Nigeria limited (FBN), a subsidiary of FBN Holdings Plc has commenced banking operations in Senegal.

First Bank Senegal, formerly registered as International Commercial Bank (ICB), was recently acquired by FBN Holdings.

The bank’s expansion to Senegal is part of the integration process and agreement reached for the acquisition of 100 percent equity interest in ICB Senegal.

In 2013, FBN began the acquisition of ICB Gambia, ICB Ghana, ICB Sierra Leone and ICB Guinea from ICB Financial Group Holdings West Africa.

The Bank’s Group Managing Director, Dr. Adesola Adedunta said the unveiling of FBN Bank Senegal aligns with the bank’s strategic ambition to broaden and build a more diverse footprint across Africa.

FBN Bank Senegal is expected to provide better service for the general public, and the country’s public and private sector clients, the bank said.

With the Senegalese addition, First Bank further consolidates its position as the largest corporate and retail banking financial institution in sub-Saharan Africa, with the exception of South Africa.
 

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