First Bank Commissions Paris Branch
FIRST Bank of Nigeria Plc yesterday, extended its services to France as its United Kingdom subsidiary; FBN Bank (UK) Limited opened a branch in Paris, France.
The inauguration of the Paris branch was witnessed by officials from the apex bank regulator in France,Ban du France, Nigerian Ambassador to France,ambassadors of other Francophone West African countries and directors of First Bank of Nigeria Plc.In his speech,the Group Chairman of First Bank,Alhaji Umaru Abdul Mutallab,said the launch of the Paris Branch was another unique opportunity for the Bank to provide excellent banking and financial services for the global community, especially the West African_French business community.
He said "As the relationship between the governments and citizens of Nigeria and France become increasingly strengthened, it is only logical that well-meaning institutions, like First Bank Group, be in the vanguard of providing the vital machinery for fostering the growing relationship," Mutallab said. He explained that the Bank's foray into France is indeed very strategic, in view of its relationship with other Francophone countries in the West African sub-region.
"It is for this reason that our Bank, the first Nigerian financial institution to take such initiative, is grateful for the support of the French Government, especially the French Monetary Authorities for the opportunity to establish in Paris," he said.
Mutallab added that First Bank's strategy of internationalization started in 1982 when the Bank established its London Branch which enabled it to gain a foothold in one of the world's leading financial centres.
"In keeping with our determination to play a greater role in international trade flows from Nigeria to the rest of the world and vice versa, our London branch transited into FBN Bank (UK) Limited, Nigeria's first full fledge subsidiary in the UK, which commenced operations effectively November 01, 2002 and as you can witness, has been performing creditably well," he said.
The Group Managing Director/Chief Executive, First Bank Nigeria Plc, Mr. Jacobs Moyo Ajekigbe said the Paris Branch will be a window for African corporate organizations in France. He said the attraction of the new branch is the ability to bank the Francophone countries in West Africa.
"The message is that we promise our customers the best of services anywhere in the world, for our shareholders, we promise the best of returns in form of good dividends on their investments and to the government, we promise to remain good corporate citizens," Ajekigbe said.
The Chairman of FBN Bank (UK), Mr. Oba Otudeko, said that the branch would serve as a platform for international trade between African countries and France. "Our intention is to provide a platform that will link Africa trade with Paris and other parts of Europe. We are going to do very well because we have set out very well.
Our promise is to give excellent services as we have done in UK," he said.
Giving more insight into the what to expect from the Paris branch, the Managing Director, FBN Bank UK, Mr. Peter Hinson, said the Bank has been the leading Nigerian bank in the UK and would extend the same quality of services to France. "We have grown to be a leading Nigerian bank in the United Kingdom. We needed to expand and we worked closely with the Bank Du France to open in Paris. We will serve the financial needs of Sub_Sahara Africa," Hinson said.
The Executive Director, Business Development, FBN Bank (UK) Limited, Mrs. Christi Fashogbon, explained that the Bank has operated as a full fledge subsidiary in the United Kingdom for over five years and decided to solidify its relationship with both Anglophone and Francophone economies, hence the establishment of the new branch. She said the Bank has good knowledge of both UK and African which would be translated into good services to customers.
A highly elated Nigerian Ambassador to France, Mr. Gordon Bristol, said he was delighted to have one of the leading banks, First Bank to open an office in Paris. "We are going to do everything within our powers to ensure that FBN Paris succeed here.
The inauguration of the Paris branch was witnessed by officials from the apex bank regulator in France,Ban du France, Nigerian Ambassador to France,ambassadors of other Francophone West African countries and directors of First Bank of Nigeria Plc.In his speech,the Group Chairman of First Bank,Alhaji Umaru Abdul Mutallab,said the launch of the Paris Branch was another unique opportunity for the Bank to provide excellent banking and financial services for the global community, especially the West African_French business community.
He said "As the relationship between the governments and citizens of Nigeria and France become increasingly strengthened, it is only logical that well-meaning institutions, like First Bank Group, be in the vanguard of providing the vital machinery for fostering the growing relationship," Mutallab said. He explained that the Bank's foray into France is indeed very strategic, in view of its relationship with other Francophone countries in the West African sub-region.
"It is for this reason that our Bank, the first Nigerian financial institution to take such initiative, is grateful for the support of the French Government, especially the French Monetary Authorities for the opportunity to establish in Paris," he said.
Mutallab added that First Bank's strategy of internationalization started in 1982 when the Bank established its London Branch which enabled it to gain a foothold in one of the world's leading financial centres.
"In keeping with our determination to play a greater role in international trade flows from Nigeria to the rest of the world and vice versa, our London branch transited into FBN Bank (UK) Limited, Nigeria's first full fledge subsidiary in the UK, which commenced operations effectively November 01, 2002 and as you can witness, has been performing creditably well," he said.
The Group Managing Director/Chief Executive, First Bank Nigeria Plc, Mr. Jacobs Moyo Ajekigbe said the Paris Branch will be a window for African corporate organizations in France. He said the attraction of the new branch is the ability to bank the Francophone countries in West Africa.
"The message is that we promise our customers the best of services anywhere in the world, for our shareholders, we promise the best of returns in form of good dividends on their investments and to the government, we promise to remain good corporate citizens," Ajekigbe said.
The Chairman of FBN Bank (UK), Mr. Oba Otudeko, said that the branch would serve as a platform for international trade between African countries and France. "Our intention is to provide a platform that will link Africa trade with Paris and other parts of Europe. We are going to do very well because we have set out very well.
Our promise is to give excellent services as we have done in UK," he said.
Giving more insight into the what to expect from the Paris branch, the Managing Director, FBN Bank UK, Mr. Peter Hinson, said the Bank has been the leading Nigerian bank in the UK and would extend the same quality of services to France. "We have grown to be a leading Nigerian bank in the United Kingdom. We needed to expand and we worked closely with the Bank Du France to open in Paris. We will serve the financial needs of Sub_Sahara Africa," Hinson said.
The Executive Director, Business Development, FBN Bank (UK) Limited, Mrs. Christi Fashogbon, explained that the Bank has operated as a full fledge subsidiary in the United Kingdom for over five years and decided to solidify its relationship with both Anglophone and Francophone economies, hence the establishment of the new branch. She said the Bank has good knowledge of both UK and African which would be translated into good services to customers.
A highly elated Nigerian Ambassador to France, Mr. Gordon Bristol, said he was delighted to have one of the leading banks, First Bank to open an office in Paris. "We are going to do everything within our powers to ensure that FBN Paris succeed here.