FBNBank Ghana has officially changed its name to FirstBank Ghana as part of the FirstBank Group’s vision to be the leading international banking group in sub-Saharan Africa and Europe through a unified brand strategy.

This strategic move aims to enhance brand clarity, consistency, and uniformity across the bank's global operations, thereby benefiting its stakeholders, particularly customers.

The FirstBank Group anticipates that this streamlined branding strategy will empower its subsidiaries to make more significant contributions and impact within their respective markets.

During the FirstBank Ghana Business Dinner held on Thursday to unveil the new brand, the Acting Chief Executive of the FirstBank Group, Olusegun Alebiosu, emphasised the significance of the name change.

Affirming the group's unwavering commitment to Africa, with a particular focus on Ghana, Mr Alebiosu expressed confidence in Ghana's market potential.

He highlighted FirstBank Ghana's pivotal role in contributing to the country's social and economic development.

He further reassured stakeholders of the bank's dedication to Ghana's economic growth by providing enhanced products, services, and initiatives tailored to meet diverse customer needs.

“FirstBank Ghana is our second biggest market in sub-Saharan Africa and offers considerable opportunities for us to deliver our brand promise and be a significant player and contributor to social and economic development.

“The name change, therefore, strengthens our position and places us on a much better pedestal to impact this market. It is a great opportunity to renew our pledge to deliver the gold standard of service and introduce innovative solutions that meet the dynamic needs of our customers,”he said.

Acknowledging the name change, the Governor of the Bank of Ghana, Dr Ernest Addison, commended FirstBank Ghana for addressing potential confusion with other banking entities.

“Names are symbolic and the choice of FirstBank Ghana embodies the bank’s commitment to a consistent identity. Additionally, I am aware that FBNBank now FirstBank Ghana, suffers from significant brand confusion and mistaken identity with First National Bank.

“We all recognise how this could have had an impact on the bank’s marketing and branding and make it harder for customers to differentiate the two entities,” he explained.

He also recognised the bank's long-standing reputation for customer-centric services since its establishment in 1884.

Dr Addison reiterated the central bank's commitment to ensuring financial stability and curbing financial crimes within the sector.

“To protect depositors while ensuring the stability and soundness of the banking system, the central bank will continue to be vigilant to ensure that banks comply with the regulatory requirement and guidelines to build trust and confidence in the banking institutions.”

The Finance Minister, Dr Mohammed Amin Adam, applauded FirstBank Ghana's significant contributions to Ghana's financial sector, highlighting its role in promoting financial inclusion, innovation, and adherence to banking standards.

Dr Adam emphasised the bank's critical position in supporting the country's development agenda, particularly in fostering the growth of small and medium-sized enterprises (SMEs).

Managing Director of FirstBank Ghana, Victor Yaw Asante, reiterated the bank's mission to become the preferred banking partner in Ghana.

Mr Asante highlighted FirstBank Ghana's impressive track record, including its top-ranking position on Ghana's Club 100 list and recent accolades such as being named "Bank of the Year" at the Ghana Finance Focus Awards.

“It is our overarching objective to achieve the status of a first-choice bank and that is what we are channelling all our strength into,” he stated.