FBN Holdings, the parent company of First Bank, has announced a major milestone as First Bank rebrands to First Holdco Plc. This move aligns with the company’s strategic objectives to strengthen its position in the financial sector. Shareholders approved the decision during the 12th Annual General Meeting (AGM), which was held virtually on Thursday Last week.
The rebranding will extend to all subsidiaries, signaling a unified identity across its operations. In the official resolution, the company stated, “There should be a change of the legal and brand names of the company from FBN Holdings Plc to First Holdco Plc, and this change will be reflected across all subsidiaries.”
In addition to the rebranding, shareholders also approved a capital raise of ₦350 billion to support growth initiatives. The company intends to sell shares to private investors and existing shareholders through various means, including public offerings and rights issues. This move is expected to enhance its market position both locally and internationally.
The name change and capital raise reflect the company’s ongoing evolution. The Board of Directors emphasized that First Bank rebrands to align with its new vision while securing regulatory approvals for the proposed capital initiatives.
This transformation comes as FBN Holdings continues to execute its strategic roadmap, ensuring it remains a leading force in Nigeria’s financial landscape.
