Talk of a double hat trick and you will not be far from the truth. For the sixth time in a row, FirstBank has been named the Most Valuable Banking Brand in Nigeria. This award from The Banker magazine of the Financial Times and Brand Finance, London, again places the brand at the top of the pack amongst its peers in Nigeria.
Against the background of the economic upheavals that marked 2016, FirstBank’s achievement in retaining the top position in Nigeria is even more worthy of celebration. Not only has she stood the test of time and redefined herself over the last 122 years, she has also grown into a robust and strong bank for all ages and various global accolades have been its reward year in, year out.
This latest announcement by The Banker magazine of the Financial Times and Brand Finance, London valued the FirstBank brand at $302m, a figure almost $40m more than its Nigerian bank in the ranking released Monday morning. Ranked 357th in the world, FirstBank’s brand is more highly valued than aech of the four other Nigerian banks in the top 500 list. FirstBank is also the only Nigerian bank in the top 10 list of Best Bank Brands in Africa.
And if you don’t understand the import of this listing for the FirstBank Brand yet, it simply means that if one were to place a monetary value on the privilege of using the brand name or any of the brand elements of the bank, FirstBank’s brand is worth more than any others; a testimony to the tried and tested timeless value of this rich enduring brand.
FirstBank continues to make giant strides in the Nigeria banking industry growing both its brand equity and balance sheet through products designed for different segments of its target market. The recent launch of its all-female product, FirstGem, broadens its appeal base with the women folk, empowering and supporting them to be all they can be and more. Interestingly, when you really think of it, isn’t it only fitting for the FirstBank of Nigeria to be the first bank in Nigeria? Literally speaking.
In all of this, FirstBank has chosen not to celebrate herself but instead to give honour where it is deserved; to its customers. FirstBank puts its customers first always and its tag line of “You First” truly says it all. Congrats FirstBank!