'The vision Mr Adeduntan crafted for First Bank is to be Africa’s Bank of First Choice, and he not only moved in that direction, he accelerated at top speed.'
Nigerian lawmakers violate country’s law, ignore PWD’s needs despite spending N42 billion on renovationsSPECIAL REPORT: How disinformation fueled ethnic tensions in KadunaTrump 2.
Ishaq Oloyede, that unusually honest professor and registrar of the Joint Admissions and Matriculation Board and secretary general of the Supreme Council for Islamic Affairs in Nigeria, gave the opening prayer, and it was time to go down the memory lane about Mr Adeduntan’s giant footprints on the sands of time at FirstBank, the Nigerian banking industry, and the Nation’s economy at large.
He took the total number of customers accounts from 10.9 million to 42 million. Profit Before Tax grew from N10 billion to N317 billion and significantly enhanced Return on Equity from 0.6% to 45% as at end of Q12024. Non-performing loans from 35% to less than 5%. Total number of Issued Cards from 7 million to 12.7 million. Total Digital Banking Customers from 0.6m to 23.
A graduate of Veterinary Medicine from the frontline University of Ibadan, the former GCEO took a master’s degree in Business Administration from Cranfield University, one of Europe’s most prestigious academic institutions. When that University awarded him a honorary Doctor of Science in 2022, Mr Adeduntan was asked to deliver a short address to the graduating class. The Chancellor said it was “in recognition of your outstanding contribution to business.
The President also lauded his “visionary leadership and commitment to excellence” as well as the bank’s solid internal management ethos, which led to seamless transition in leadership to Mr Alebiosu, the new CEO.In his farewell message to his former colleagues and subordinates, Mr Adeduntan said he was proud to be CEO of one of the best workforce teams in the industry.
At Premium Times, we firmly believe in the importance of high-quality journalism. Recognizing that not everyone can afford costly news subscriptions, we are dedicated to delivering meticulously researched, fact-checked news that remains freely accessible to all.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Polaris Bank retains best digital bank award for the fourth yearPolaris Bank says it has seen tremendous market gain in digital transactions in the first eight months of 2024.
Read more »
Polaris Bank retains best digital bank award for the fourth yearNigeria's independent online newspaper
Read more »
Access Bank UK acquires majority stake in Mauritius’ Afrasia BankAccess Holdings has announced that Access Bank UK has signed an agreement to acquire a majority stake in Afrasia Bank Limited, the fourth-largest bank in Mauritius by assets.
Read more »
First Bank to Consumers: Our platform transition won’t affect you”There is no plan for systems upgrade for customers applications which are fully operational.'
Read more »
First Bank: We're upgrading our suppliers' platform, not mobile applicationFirst Bank of Nigeria (FBN) says it plans to upgrade only its suppliers' platform, not the company's digital banking system.
Read more »
First Bank joins PCAF to support Nigeria’s transition to low-carbon economyFirst Bank has joined the Partnership for Carbon Accounting Financials (PCAF) initiative to promote sustainable finance, combat climate change and advance sustainable socio-economic development for a just transition.
Read more »