FirstBank is currently owned by FBN Holdings PLC, a prominent financial services group with a highly diversified shareholder base. This means that its ownership is spread across a vast number of individuals and entities, rather than being concentrated in the hands of a single owner.
Understanding FirstBank's Ownership Structure
While FirstBank was founded in 1894 by Sir Alfred Jones, its corporate structure has evolved significantly over more than a century. Today, FirstBank operates as a key subsidiary under the umbrella of FBN Holdings PLC.
The ownership of FBN Holdings PLC is broadly distributed, with over 1.3 million shareholders. This extensive shareholder base ensures that control is not consolidated, reflecting a modern corporate governance structure. Such diversified ownership is common among large publicly traded companies, where shares are bought and sold on stock exchanges, allowing a multitude of investors to own a stake in the company.
Key Ownership Details
To clarify the ownership structure, here's a breakdown:
| Aspect | Detail |
|---|---|
| Current Owner | FBN Holdings PLC |
| Ownership Structure | Diversified, publicly traded |
| Shareholders (FBNH) | Over 1.3 Million |
| Year Founded | 1894 |
| Original Founder | Sir Alfred Jones |
Historical Context and Evolution
FirstBank's journey began over a century ago as the Bank of British West Africa. Its establishment by Sir Alfred Jones laid the foundation for what would become one of Africa's leading financial institutions. Over the decades, it has undergone various transformations, including name changes and structural reorganizations, leading to its current status as a subsidiary of FBN Holdings PLC. This evolution reflects the dynamic nature of banking and corporate development in the region.
For more detailed historical information, you can refer to the First Bank of Nigeria Wikipedia page.
