FBN Holdings Plc has been renamed First HoldCo Plc (FirstHoldCo) as part of plans to create a uniform identity across all its subsidiaries.
The leading Nigerian financial company announced the change in its name in a statement released on Tuesday, February 11, 2025.
The rebranding was intended to highlight FirstHoldCo’s commitment to innovation, customer focus, and operational excellence.
Part of the statement from the banking firm read:
The statement also confirmed that this change would be effected across the group once the relevant regulatory approval had been given.
TimesNow.com.ng previously reported that at the 12th AGM of the holding company in November 2024, First Bank shareholders approved a change in the legal and brand names from First Bank Holdings to FirstHoldCo Plc and FirstHoldCo, respectively.
First Bank described the transformation and rebranding as a pivotal milestone in its journey to redefine its identity, unify its subsidiaries, honour its heritage, and solidify its leadership in the financial services industry.
Group managing director Wale Oyedeji said the transition was significant for the company and marked a strategic shift towards future growth and innovation, as reported by Punch.
He added that the rebranding was not just a name change but also described this process as a ‘reaffirmation of our purpose, vision, and commitment to providing world-class financial solutions to our stakeholders’.
Oyedeji said the rebranding would unify the company’s identity across subsidiaries and regions, reinforcing its leadership position in Africa while maintaining a global presence.
The GMD highlighted that within Nigeria, FirstHoldCo’s unified brand structure would strengthen operational synergies, enhance clarity in service offerings, and improve the delivery of tailored solutions for businesses and individuals nationwide.
ThisDay reported that the GMD said the rebranding aligned with the company’s strategic vision of staying ahead of industry trends through innovation and a customer-centric approach.
Rebranding is First Bank’s mind game tactic amidst fraud scandal – Analyst
First Bank’s rebranding effort, which saw the bank’s holding company, FBN Holdings Plc, renamed First HoldCo Plc, is expected to have a positive impact on its relationships with customers, investors, and partners, according to financial analyst, Ishaya Ibrahim.
In an interview with TimesNow.com.ng, Ibrahim noted that the rebranding is a plot to reassure customers and investors, amidst its reputational issues.
As he put it:
Ibrahim described the rebranding as:
When asked about potential challenges during the rebranding process, Ibrahim downplayed the likelihood of any significant hurdles.
The analyst added:
The rebranding of First Bank to First HoldCo Plc has elicited reaction from Small Medium Enterprise (SME) owner, Eroh Mavis.
