Dr. Adesola Adeduntan, the Chief Executive Officer of FirstBank Group, has reiterated the bank’s dedication to providing customers with crucial updates on financial developments as a testament to the institution’s commitment to placing customers at the core of its operations.
Speaking at the bank’s Corporate Customer Engagement Forum in Lagos, Dr. Adeduntan emphasized the importance of engaging with customers at a high level.
He stated that “it is always a delight to hold this kind of high-level engagement with customers.”
Represented by Calistus Obetta, Group Executive of Technology, Digital Innovation, and Services Division at FirstBank Group, Dr. Adeduntan highlighted the bank’s impressive financial performance in the first half of 2023.
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He underscored that FirstBank’s recent financial results demonstrated its consistent progress in becoming Africa’s premier bank of choice.
For the first half of 2023, FirstBank achieved a record-breaking Profit Before Tax (PBT) of ₦188.8 billion, marking a remarkable 214.6 percent increase Year on Year (June 2022: ₦60.0 billion).
The bank’s total assets surged to ₦13.6 trillion year-to-date, while customers’ deposits grew to ₦8.8 trillion, reflecting a 26.9 percent year-to-date increase.
Dr. Adeduntan expressed gratitude to customers, partners, and stakeholders for their unwavering confidence in the FirstBank brand, acknowledging their contributions to these outstanding results.
He also reaffirmed the bank’s commitment to obtaining feedback from customers to enhance their experience and journey with FirstBank.
During the forum, Dr. ‘Biodun Adedipe, Chief Consultant of B. Adedipe Associates Ltd (BAA Consult), emphasized the importance of agility and responsiveness for Chief Financial Officers (CFOs) in today’s business landscape.
He encouraged CFOs to incorporate innovative goals into their company’s growth plans, especially in light of recent disruptions since 2020.
Dr. Adedipe stressed the importance of balancing business risk and financial risk, emphasizing the need for efficient accounting and reporting functions.
He highlighted the significance of effective cash flow management and recommended developing funding models and strategies to enhance efficiency and sustainability.
Commending FirstBank’s management for its effective growth despite economic challenges, including Naira depreciation due to exchange rate unification,
Dr. Adedipe emphasized the bank’s impressive results, which outpaced the currency depreciation rate. He lauded FirstBank’s performance as a credit to its management.
Adeola Abioye, Head of the Treasury Department, encouraged Nigerian businesses to focus on non-oil exports as a means of diversifying their operations.
She highlighted FirstBank’s robust export desk, which offers valuable insights into available opportunities in this sector.