FirstBank and FBN Capital Asset Management, the banking and the investment arms of the FBN Holdings Group have emerged the Most Innovative Bank in Africa, and Best Asset Manager in Nigeria respectively at the Africa Banking Awards 2014 organised by EMEA Finance Magazine, which took place on the 4th of December 2014 at the Law Society in London, United Kingdom.
FirstBank was adjudged winner based on its recent innovative partnerships to drive e-commerce evolution in Nigeria. The bank has struck a partnership with online payment company PayPal – the only such project in the country –that allows customers create and run a secure PayPal account directly from the FirstBank online banking platform, FirstOnline . On the other hand, FBN Capital Asset Management was emerged Best Fund Manager as a result of double digit increase of its assets with an impressive 200 per cent growth rate in Assets Under Management (AUM) across mutual funds.
As the asset management division of FBN Capital, a fully owned subsidiary of FBN Holdings, the company was recognised for its impressive performance in the period under review where assets under management experienced a double digit increase. According to EMEA Finance Magazine, “This award is in recognition of the milestones and accomplishments recorded by the company within the review period. What is particularly impressive is the 200% growth rate in Assets under Management (AUM) across the mutual funds.” Commenting on the awards, the GMD/CEO, FirstBank, Bisi Onasanya stated that FirstBank is delighted to have won so many awards which recognize success on the African Continent. We have an unrivalled number of professionals on the ground in Africa, which means we have a deep and intimate understanding of the needs of our clients, and are able to offer innovative and meaningful solutions as a result. The awards are testament to FirstBank’s expertise and highlight the bank’s commitment to always put the customers’ first in all its dealings as well as drive home the Bank’s ability to advise clients on the best solutions for their business.
Also speaking, the Managing Director of FBN Capital Asset Management, Mr. Michael Oyebola, said, “We are indeed pleased to have been selected as the recipient of this award which serves not only as a recognition of our efforts, but as a motivation to achieve even greater results in the coming year.” He added that the award is evidence of the skill and expertise which characterizes the personnel within FBN Capital Asset Management and other subsidiaries within the Group.
According to the Managing Director of FBN Capital, Mr. Kayode Akinkugbe, “This is a landmark achievement which demonstrates the hard work of the team in FBN Capital Asset Management. According to him, “One of our core values is excellence, and this shows how much we exemplify our values through the work that we do”. In a similar development, FirstBank and FBN Insurance have also won awards as Best Private Bank in Nigeria and Best Life Insurance Company for the Nigerian market respectively, courtesy World Finance Magazine.
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