Business
Banking Made Simple
Raheem Akingbolu reviews the new FirstBank’s corporate website and reckons that it would go a long way in strengthening the ability of the bank’s patrons and other potential customers in addressing basic banking operations.
Outside the physical identity of any brand, the most accessible door into operations of a company in today’s market is perhaps the website. With digital technology taking the lead in today’s business environment, website has swiftly become the virtual meeting point for sellers and buyers.
As a result of the fact that website can make or mar companies, depending on its message and aesthetic look, companies are now evolving every day to communicate their ideals through their websites. Today, having a website and an online presence give brand promoter opportunity to market their products online.
For the management of First Bank of Nigeria Limited, the new website represents the trending posture of the brand. In line with today’s business environment, the bank has continued to evolve and reposition to strengthening its operational skills. Though ageing, the FirstBank brand is ever young at heart. Through the website, First Bank has been able to present less cumbersome operations and by extension woos potential members of the public to join the FirstBank’s family.
Specifically, the website appears to have demystified online banking. Among other unique features, it allows self-registration of online banking; it makes provision for loan facility and encourages multiple transfers at once.
In a way, handlers of the FirstBank brand show through the friendly site that they are not ready to waste their customers’ time. They are aware that people don’t visit their website because they are looking for somewhere to spend their extra time. The promoters are quite aware that their customers simply want to get to things quickly and that is why the messages on the website speak to the specifics. Technically but smoothly, each category of the products displayed also parades key issues without confusing customers with irrelevant details.
Though an upgrade of the old one, the current website plays up features that are streamlined to reinforce its role in delivering seamless banking and technology solutions to its customers across the world.
The website is configured with modern design and improved functionality that eases customer experience whilst carrying out various activities on the site, including electronic banking. Non-customers are also able to open an account, putting them at an edge in the industry as they establish a relationship with the bank that puts its customers first.
For instance, many analysts have commended the fact that the bank adopts a fresh, magazine-style look and feel for easy navigation in order to promote the access to essential information for its customers, FirstMonie agents, prospective agents and the public. Another beautiful thing about the site is that the upgrade also guides an average customer to make well-informed decisions about one’s personal, business and private financial needs.
There is no doubt the fact that the bank keys into the popular theory that responsive websites are now the rule for institutions, not the exception. Recent experience in the market place has shown that offering a seamless and consistent user experience, responsive design, allows a single site to serve audiences on all devices and orientations. However, if a company’s analytics show that the percentage of mobile traffic to the company’s site is at least 10% and steadily growing, responsive design is a must for your redesign.
The new FirstBank website is built on a powerful content management system that meets all of the bank’s needs. Meanwhile, some of many basic considerations for institutions, which the new website has explored are; ease of use, features, security and responsive design support.
In financial website, content is more important than ever to a financial website, offering visitors useful information, tools and resources to make better decisions with their money. Again, First Bank explores this maximally.
The bank’s messaging is simple and consistent, and organised in a scannable format for users to digest and take action. Additionally, like all great sites, the site focuses content around visitor’s needs, offering solutions and varied content types.
Being the first impression that its customers gets, website designers often advise that site design should be visually consistent with everything else the audience sees – from customer’s branch to his statement inserts to his emails.
In a way, the design of the FirstBank website is unique, uncluttered and well-planned so it can keep up with the institution’s changes. Another beautiful thing is that the site’s imagery feel distinct and appeal directly to First Bank’s geographic footprint and specific demographics, successfully balancing branded photography and promotional graphics. Each element of the design has a clear strategic purpose, align with the FirstBank brand promise, and send the right message to the bank’s customers.
Sterling Bank, on Wednesday, announced the removal of account maintenance fees on all personal accounts, describing the decision as a “gift” to Nigerians in celebration of the country’s 65th Independence Day.
The decision, which follows the abolition of transfer fees on local online transactions in April 2025, was outlined in a statement shared by the bank. The bank said the policy would allow customers to keep more of their earnings, framing it as a step toward financial freedom.
“Every fee we remove is one less barrier between our customers and true financial freedom. This was the rationale behind eliminating transfer fees in April, and it is the same principle we uphold as we eliminate account maintenance fees,” Sterling Bank’s Managing Director, Abubakar Suleiman, said.
The statement highlighted that in 2024 alone, tier-1 banks in Nigeria earned over ₦650 billion from account maintenance and e-banking charges. “This decision cuts at the heart of a revenue model that has long cost Nigerian customers dearly,” the bank noted.
Obinna Ukachukwu, Sterling’s Growth Executive for Consumer and Business Banking, said the initiative was intended to strengthen long-term relationships with customers. “This initiative is about building lasting relationships that fuel sustainable growth. We put transparency and customer value first, and in doing so, we are building a foundation that serves both our customers and Sterling’s future,” he said.
Sterling Bank also framed the removal of fees as part of a broader strategy to make banking more inclusive and customer-focused. The April 2025 transfer fee abolition had already eliminated charges on all local online transactions, easing costs for individuals and small businesses. At the time, Ukachukwu described the move as a values-driven decision aimed at ensuring fair access to money.
“Access to your own money shouldn’t come with a penalty. This is more than a financial decision—it’s about redefining banking to put customers first,” Ukachukwu said.
The latest move aligns with Sterling’s positioning as a bank committed to transparency, customer value, and digital innovation, and it signals a continued effort to reshape banking practices in Nigeria.
Guaranty Trust Holding Company Plc has reported a profit before tax of N600.9 billion for the half year ended June 30, 2025.
The figure is contained in the company’s audited consolidated and separate financial statements, which were released to the Nigerian Exchange Group and the London Stock Exchange.
The group stated that the performance was driven by growth in core earnings lines, including interest income and fee income, which rose year-on-year by 31.5% and 33.0%, respectively.
It explained that the growth helped to cushion the absence of N493.01 billion in fair value gains recorded in 2024, resulting in a 40 per cent decline.
GTCO stated that its total assets stood at N16.7 trillion, while shareholders’ funds totaled N3.0 trillion during the review period.
It added that its balance sheet remained strong, diversified, and de-risked across operating jurisdictions, as well as its payments, pension, and funds management businesses.
The group disclosed that its Capital Adequacy Ratio closed at 36.2 per cent, while asset quality improved with IFRS 9 Stage 3 loans declining to 3.2 per cent.
At the group level, Stage 3 loans stood at 4.5 per cent, compared with 5.2 per cent in December 2024.
Similarly, the cost of risk improved to 1.7 per cent from 4.9 per cent recorded in December 2024.
The company stated that its net loan book increased by 20.5 per cent, from N2.79 trillion in December 2024 to N3.36 trillion in June 2025.
Deposit liabilities also increased by 16.6 per cent from N10.40 trillion to N12.13 trillion during the same period.
The board of GTCO approved an interim dividend of N1.00 per share for the half year ended June 30, 2025.
Commenting on the results, Segun Agbaje, Group Chief Executive Officer, said the half-year performance reflected business strength and progress towards building a diversified financial services ecosystem.
He said beyond last year’s extraordinary one-off gains, the group was now driving sustainable growth with recurring earnings that demonstrated the resilience and scalability of its model.
Mr Agbaje noted that continued investment in technology, particularly in core banking upgrades, was delivering stronger uptime, efficiency, and greater capacity to scale with a growing customer base.
He added that across banking, funds management, pension, and payments, GTCO was leveraging a de-risked balance sheet to reinforce its market position while maintaining strategic flexibility. According to him, this foundation positions the group to seize emerging opportunities and deliver lasting value for all stakeholders.
Mr Agbaje stressed that GTCO had continued to post some of the best metrics in Nigeria’s financial services industry in terms of key financial ratios. He said the group recorded Pre-Tax Return on Equity of 60.4 per cent, Pre-Tax Return on Assets of 10.6 per cent, Capital Adequacy Ratio of 36.2 per cent, and Cost-to-Income ratio of 30.1 per cent.
NAN
In line with its commitments of promoting sports and developmental initiatives at all levels, First Bank of Nigeria Limited is partnering the organizers of the first of its kind E1 Lagos GP an all-electric powerboat racing championship, set to hold between the 3rd and 5th of October 2025.
Disclosing this at the E1 Lagos GP Stakeholder Immersion session in Lagos recently, Olayinka Ijabiyi, the Acting Group Head, Marketing and Corporate Communication of FirstBank, reaffirmed the Bank’s commitment to supporting initiatives that engender human development across the country while cementing legacies.
“Our involvement in the E1 Lagos GP is about driving legacy and enabling the passions and aspirations that unite Nigerians. We are a bank that has been in business for over 131 years and we recognize that sports drives us as a country, which is why through our First@Sports initiative, we continue to invest in platforms that inspire and elevate our people. We have been supporting legacy sport tournaments like the Georgian Polo Cup which we have hosted for 105 years, and the Lagos Amateur Open Golf Championship for 64 years now,” Ijabiyi said.
With the event slated for the start of the fourth quarter, FirstBank is aligning its partnership with the annual DecemberIssaVybe initiative, a campaign that celebrates the vibrant spirit of Nigerians during the festive season by curating unforgettable experiences that blend culture, entertainment and lifestyle. “FirstBank is deeply woven into the fabric of society and the lives of our customers. As presenting partner, we are creating meaningful touchpoints with customers and prospects, offering them a world-class experience of relaxation and celebration that captures the true essence of Lagos during the festive season,” he added.
Lagos State Commissioner for Information and Strategy, Gbenga Omotoso, who was also at the event, described the initiative as an event that will grow not just the sports but also showcase Lagos’s vibrant culture, dynamic people, and global relevance, while commending FirstBank for their support.
The teams owned by notable stars like Tom Brady, LeBron James, Didier Drogba, Will Smith, Marc Anthony, Steve Aoki, Rafael Nadal will compete in the Lagos leg before the 2025 season of the competition terminates in Miami in the United States.
