First Bank of Nigeria Limited has emerged the best retail bank in Nigeria for the second year running.
At the award ceremony, which was organised in conjunction with Asia’s most prestigious retail banking event, the Excellence in Retail Financial Services 2013 Awards at Westin Chosun, Seoul in South Korea, last week, FirstBank beat other contenders in a three-month evaluation process which was based on a balanced and transparent scorecard that was used to determine the ranking of various retail banks in Nigeria.
Director of Research of The Asian Banker, the organisers of the event, Chris Kapfer said FirstBank was picked based on its performance as market leader in deposits and retail loans with a huge lead compared to its competitor. It is the first financial institution in Nigeria to cross the five million mark in issued payment cards, the only bank which is able to issue an ATM card in 15 minutes, with a wide reach and good financial performance as well as its strong focus on customer service.