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First Bank Assures Shareholders Good Dividend Payout in 2022

First Bank Assures Shareholders Good Dividend Payout in 2022

FBN Holdings Shareholders, the parent company of First Bank of Nigeria Limited, have been assured of a good dividend payout in 2022.

This promise was made by the chief executive of First Bank, Mr Adesola Adeduntan, in an interview with ThisDay Newspaper.

For a while, shareholders of First Bank have not enjoyed a good dividend payout like their peers in Zenith Bank and GTCO as a result of issues the bank is making efforts to resolve like non-performing loans (NPLs) and others.

At a point, the toxic loans in the financial institution were very high but at the moment, they are at a reasonable level and based on the strategies being put in place by the board and management, Mr Adeduntan believes investors should begin to smile very soon.

“First Bank remains dependably dynamic and will ensure that the needs of all stakeholders are met to the customers,” the respected banker said in the interview.

He further assured that, “We will provide the best products and deliver exceptional customer experience, to the shareholders, capital appreciation and good dividend payout, to employees, competitive emolument and good career path, to regulators, voluntary compliance to all rules and regulations and to communities, we will be good corporate citizens and give back to the society where we operate.”

Read More: First Bank Appoints New Executive Directors

Mr Adeduntan believes the lender will achieve these goals because the company is well-position to deliver value to customers.

“The industry has changed and will continue to evolve at a faster pace with new innovative technologies, and the customers will continue to gravitate towards institutions that provide the best digital payments services that address their changing needs for convenience, speed and security.

“First Bank will remain at the cutting edge of innovation and technology in the industry. First Bank has the right capabilities and competencies to lead and take advantage of the new developments in the digital payment space, and indeed, the banking industry.

“At First Bank, we will continue to focus on customer-led innovation as we put our customers first in everything we do.

“We understand that although the needs of customers may remain the same, the channel of delivery remains dynamic, and we must stay ahead of the curve; our stakeholders should expect to see a bank that is future-proof and ready to provide best-in-class products and services that will meet and surpass their needs,” he assured.

Lately, First Bank attracted the interest of investors when Mr Femi Otedola, the son of a former Governor of Lagos State, late Sir Michael Otedola, acquired a significant stake in the company, triggering a leadership tussle with the current chairman, Mr Tunde Hassan-Odukale.

About Bukola Olanrewaju

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