FBNBank repositioned to aid economic dev’t agenda – Dr.  Adeduntan

Dr. Adesola Adeduntan

The Chief Executive Officer (CEO) of First Bank of Nigeria Limited and Subsidiaries, Dr. Adesola Kazeem Adeduntan (FCA), has disclosed that FBNBank Ghana is well-capitalized to help drive Ghana’s economic growth and development agenda.

Dr. Adeduntan who recently paid a day’s working visit to Ghana to interact with the Management and Staff of FBNBank introduced Victor Asante as the new Managing Director of the Bank and revealed that Ghana remains a critical part of the Bank’s overall strategy of becoming a leading international financial services group in Sub-Saharan Africa.

The CEO of First Bank of Nigeria Limited and Subsidiaries, parent bank of FBNBank Ghana’s touched on a wide range of issues in relation to the Bank’s operations and contribution to the Ghanaian economy,

He disclosed that: “The recapitalization of FBNBank Ghana has repositioned the bank to be able to undertake large ticket transactions whilst the enhancement of the regulatory single obligor limit has created space for us to undertake big ticket project financing.”

“We also have an expanded risk acceptance limit and target market and part of our group’s drive is to do more in the real sector space, supporting manufacturing and infrastructure projects with good cash flow potential” Dr. Adeduntan added.

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He noted that the Ghanaian economy is reasonably big to absorb the new investment in equity and therefore the bank is willing to support the course of the government as it impacts the growth in GDP, reducing unemployment and most importantly, developing the real sector of the economy for continued national development.

On his part, Victor Yaw Asante, MD of FBNBank Ghana said there is a need for the bank’s staff, that is predominantly youthful, to uphold a culture of progressive performance that would establish the FBNBank Ghana brand as a mark of excellence.

“FBNBank Ghana is one of the banks that has met the Bank of Ghana’s new minimum capital requirement of GH¢400 million and, among other things, we have strengthened our corporate governance and ensured the availability of technological infrastructure to enable us deploy innovative products and services to meet our customers’ needs”, he said.

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