Posted by This Day on
With the successful completion of its integration process with MBC International Bank Plc and FBN (Merchant Bankers) Limited, First Bank of Nigeria Plc has linked up 307 (over 90 percent) of its 387 branches on its finacle software platform which delivers on-line real-time services.
With the successful completion of its integration process with MBC International Bank Plc and FBN (Merchant Bankers) Limited, First Bank of Nigeria Plc has linked up 307 (over 90 percent) of its 387 branches on its finacle software platform which delivers on-line real-time services.
The platform enables customers of the bank to transact banking businesses from any of the on-line branches throughout the country. In other words, customers can access their accounts from branches other than their own.
The addition of the new branches, which came on line on January 03, 2003, according to a statement, makes First Bank the largest on-line banking network in the country.
The branches, according to the statement are Abuja Jos Street; Warri Airport Junction; Bonny Hospital Road' Port Harcourt Garrison; Creek Road Apapa; Keffi Road; Adetokunbo Ademola; Oba Akran Road; Ikeja; Kano Bello Road; Olu Obasanjo Road in Port Harcourt; Onitsha Upper New Market Road and Eko Hotel, Lagos Cash Centre.
First Bank is noted for its consistent profitability. With shareholders' funds of over N54 billion, the bank recently announced a profit before tax of N11.858 billion for the half-year ended September 30, 2005. This represents 55.64 percent growth over N7.624 billion posted same period last year.
Similarly, profit after tax grew from N5.906 billion for the corresponding period last year to N9.165 billion, indicating growth of 55.18 percent.The banks gross earnings also recorded a remarkable 33.37 percent increase from N26.295 billion for the corresponding period last year to N35.070 billion for the half-year ended September 30, 2005.