Facts Behind Firstbank Plc’s Win Of The 2019 Oil And Gas Banker Award

The Oasis Reporters

March 4, 2020

A visit to any crude oil refinery in Nigeria (Warri, Port Harcourt and Kaduna) would reveal a plethora of banks branches within such complexes housing them which belongs to the Nigerian National Petroleum Corporation. But First Bank Plc, Nigeria’s first commercial bank that opened business about 126 years ago may seem to have slightly bigger edifices that portray where it has a more robust business interest. Especially when Nigeria’s original business interest lay back then in Crude oil. And even now.

Therefore when First Bank of Nigeria plc was recently presented with the Oil and Gas ‘Banker of Year 2019’ award at the Patrons’ Dinner and Industry Awards of the Nigeria International Petroleum Summit, it was no surprise.

But first, here are First Bank of Nigeria Plc’s facts in the 2019 Half Year Results as presented by the Nigerian Stock Exchange, NSE.

It has N5.57 trillion in total assets and its loans and advances to customers amounted to N1,683.8 billion while it garnered N3,486.7billion as deposits from customers. First Bank Plc made a Profit after Tax of N31.73billion

The presentation of the award featured among
other things, a panel discussion with Dr. Adesola Adeduntan, First Bank CEO, represented by Mrs. Bashirat Odunewu, the bank’s Group Executive, Energy & Infrastructure as a panelist to deliberate on the topic “What are the key challenges when it comes to managing risk and generate sustainable long-term in-country value development environment”.

Other speakers in the panel were Mrs. Olayemi Anyanechi, Managing Director, Partners Sefton Fross; Bank Anthony Okoroafor, Chairman, Petroleum Technology Association of Nigeria (PETAN); Mr. Bitrus Bako Nabasu, Permanent Secretary, Ministry of Petroleum Resources; and Patrick Olinma, Executive Director, Oil & Gas Commercial, Total E&P Nigeria Ltd.

Greg Abolo

Blogger at The Oasis Reporters.

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