How we are structured

Prior to establishing FBN Holdings (the holding company/HoldCo), the Group’s portfolio of businesses had rapidly developed, especially in the preceding decade. A revised structure was developed to provide a stronger platform to support the Group’s future growth ambitions domestically and internationally.

Our Group structure


  1. FBN Mortgages will now be retained as a subsidiary of First Bank of Nigeria.

Reporting by business group

FBN Holdings Plc is made up of four business groups (as shown above). In addition to reporting on Group performance we also report on performance under our four business groups.

Each business group is represented within the report through its own colour, as shown in the icon above.

FBN Holdings (HoldCo) is premised on the notion that the optimal legal structure of a diversified multi-geographical financial services group, such as FirstBank aspires to become, is not necessarily the same as the optimal operating structure for managing the business. The legal structure is typically optimised for tax efficiency, legal and regulatory compliance while the operating structure is usually designed to ensure product and service clarity for customers, organisational efficiency, clear direction, management and accountability.

Under HoldCo, we have established key business groups designed to meet the business needs of different client groups. The four business groups under the holding company are Commercial Banking, Investment Banking and Asset Management, Insurance, and Other Financial Services. These represent both the bank and non-bank financial services segments we have chosen to participate in given our strong conviction of their growth potential over the medium to long term, as well as the significant natural synergies that exist among them. The corporate centre of HoldCo acts as a ‘strategic architect’ with functions resembling an investment holding company ensuring that the holding company structure will help enhance our industry competitiveness, streamline and coordinate our various operations across a range of services and further exploit opportunities for synergy between the business groups.

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