NewStats: 3,262,365 , 8,176,940 topics. Date: Monday, 02 June 2025 at 01:17 AM 6k1e5k

Nigerian banks are repositioning for more significant impacts, better product offerings, and higher returns on investment.

Apart from announcing several changes, the banks moved to solidify their leadership positions by changing names, branding, and operational structures.

Nigerian banks seek new frontiers and new profits

Earlier in March, one of Nigeria’s leading banks, Zenith Bank, announced that it was rebranding into a Holding Company known as Zenith Holding Co.

The bank said the move is to reposition it to compete favorably in the industry and serve its customers better.

Zenith Bank said it had received approval in principle from the Central Bank of Nigeria to restructure and operate as a financial holding company.

The company revealed plans to change its organizational structure in a statement signed by the Company Secretary, Michael Otu, on Friday, March 3, 2023, and submitted to the Nigerian Exchange.

With this change, the organization will have a banking subsidiary and other subsidiaries in the financial services sector.

Sterling Bank s the fray, splits into two

In April, Sterling Bank Plc announced that it had completed an essential step in its ongoing efforts to shift from a financial institution to a holding company. The bank said the move is in line with the delisting, transfer, and relisting of all shares to the Sterling Financial Holding Company on the floor of the Nigerian Exchange.

Per a statement by the firm, the relisting shows another significant development in the ongoing transition, which the bank’s shareholders unanimously approve. As ratified by the Nigerian Exchange, the bank stated that this move follows approval in principle for it to operate as a Holding Company by the Central Bank of Nigeria (CBN).

The bank will convert to a non-operating financial holding firm as approved by the Central Bank of Nigeria (CBN) and is expected to enable it to diversify its investment portfolio, expanding its presence in the financial markets.

Punch reports that upon completion of the transition, Sterling Holdings Company would begin operations with two banking subsidiaries, one operating as a conventional commercial bank and the other as the Alternative Bank Limited, which will operate as a non-interest bank.

First Bank changes name

And most recently, Nigeria’s oldest bank, First Bank, announced a corporate name change for its African subsidiaries. According to a statement by the bank, the name change aligns with the subsidiaries of the parent brand and enjoys the strong heritage and brand equity built by FirstBank Nigeria in its 129 years of existence and industry leadership.

Punch reports that the name change affects its operations in several African countries where it has its presence. The bank named the first set of subsidiaries affecting the name alignment as FBNBank UK, FBNBank Sierra Leone, FBNBank Gambia, and FBNBank DRC.

Per the statement, the subsidiaries would be addressed as FirstBank UK, FirstBank Sierra Leon, FirstBank Gambia, and FirstBank DRC. While the banks’ change of names does not affect their core operations and responsibilities, it will affect public perceptions and customers’ acceptance.

The banks ed other banks that have significantly rebranded and repositioned in Nigeria.

https://www.legit.ng/business-economy/industry/1530761-complete-list-nigerian-banks-names-cbn-approval/

Let the change of name metamorphos into more efficient bank services. That is what we crave for.

I see Buhari changing his name before handing over, I see some states in Nigeria changing their names as well, I see Seun changing his name to Obinna, I see mynd44 changing his name to abubaka, I see Nairaland bearing a new name. It's the era of change my people, change your names and surnames, so as to benefit from this era.

This I have seen.

Good for them

Seriously? All of them are useless normally!

Lol so in one word People using Sterling Bank will be having two Number at the Same time....


Abeg aw Sterling bank customer go take know which Faction dem dey like this Wahala too much for this country....

OK

Let change Nigeria name also. Or let split it.

Good For Them

Nigeria Bank Don Show Me BAD NEWS

Good luck to them

There should work on their network not only by changing names, most especially zenith bank

A change of name sometimes can be a change of destiny....

There was time of Oceanic Bank, Intercontinental bank
Can't most of there names again

Ok, noted.

Just a case of greedy CEOs not wanting to step aside...

C

I don't care what they're changing to, but make my change no loss

Let Nigeria also split.

Sterling should change their name to Homonyash fc. Like their Chelsea mentor

Same old shit, different names 😂😂

Change of name, same problem.
SMH😒

Sterling Bank always looking like where they sell ice-cream.

I nor understand wetin I just read abeg

Sensational headline. Anybody who didn't read the body of the post would think the banks changed their names completely and not that they only catch on the new trend of banks having HOLD-CO

adding more spices for those crooks who wants to wash their dirty money

All these English..

Someone to sum it up for us jare

what benefit is it to the common man

I hope it will improve services

Ok