FBN Bank (UK)

What FBN Bank (UK) does

FBN Bank (UK) Ltd (trading as FirstBank UK) is a UK-incorporated, PRA-authorized and FCA-regulated (FRN 216772) commercial bank and wholly owned subsidiary of First Bank of Nigeria Limited, with operational lineage to 1894. Originally established as the London Branch of First Bank of Nigeria in 1982 and reincorporated as a UK subsidiary in November 2002, the bank operates from its registered office at 28 Finsbury Circus and a subsidiary head office at 29 Gresham Street in the City of London, with representative offices in Lagos and Abuja, Nigeria. It functions as a specialist international bank focused on facilitating trade and capital flows between Africa, Europe, and the Middle East, organized around four business divisions: Corporate Banking (Trade & Commodity Finance, Cash Management, Asset-Backed Lending, Structured Finance, Corporate Lending & Advice, FX & Money Market), Institutional Banking (Loan Syndication, Trade Finance, Correspondent Banking, Forfaiting), Private Banking (Investment, Wealth Protection, Property, Lifestyle for HNW individuals), and Capital Markets (market-making in African Eurobonds, G10 FX, USD/NGN NDFs, and NGN securities).

Technology infrastructure centers on an encrypted internet banking platform with mobile token one-time-passcode authentication, 3D Secure debit cards, and Strong Customer Authentication (SCA) compliance. The bank operates a PSD2-compliant Open Banking API platform hosted on Oracle Cloud, providing an FCA-registered Developer Portal with OAuth 2.0 and JWT-based authentication for AISPs and PISPs, currently in sandbox stage with live access in development.

The business model is transaction-fee-driven across corporate and institutional banking (trade finance, FX, lending, syndication) and subscription/relationship-fee-driven in private banking, supplemented by capital markets trading income (bid-oft spreads on Eurobonds, FX liquidity provision). Distribution is primarily direct relationship banking via dedicated relationship managers in London, supported by self-serve internet banking, the open API portal, and on-the-ground Nigerian representative offices. There are no publicly disclosed pricing tiers or fee schedules, and the bank does not disclose revenue, headcount detail beyond 200+ staff, or financial performance metrics. No external private equity or venture capital ownership is indicated; the shareholder chain traces to FBN Holdings Plc.

Name

FBN Bank (UK)

Legal name

FirstBank UK Ltd

Website

https://fbnbank.co.uk

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

251–500 employees

Short description

FirstBank UK is a PRA-authorized, FCA-regulated specialist international bank and wholly owned subsidiary of First Bank of Nigeria, providing corporate, institutional, private, and capital markets banking services to African corporates, financial institutions, sovereigns, and high net worth individuals from offices in London, Lagos, and Abuja.

Ownership category

akta.pro rank

Product category

International Banking

NAICS

Commercial Banking (522110)

SIC

National Commercial Banks (6021)

akta.pro primary industry

A2A Cross-Border & FX via Open Banking (FSAMAFAK)

akta.pro secondary industry

Cross-Border A2A & Bank Transfer Networks (FSAMAIAF)

Keywords

• International banking services
• Trade finance solutions
• Correspondent banking services
• Private wealth management
• Capital markets trading

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Corporate Banking Services: Revenue from corporate banking products including Trade & Commodity Finance, Cash Management & Payment Solutions, Asset Backed Lending, Structured Finance, Corporate Lending & Advice, and FX & Money Market Solutions for African corporates and international trading houses.
2. Institutional Banking Services: Revenue from loan syndication & distribution, trade finance, correspondent banking facilities, cash management, payment solutions, and treasury services for financial institutions, sovereign entities, and global exporters.
3. Private Banking & Wealth Management: Revenue from investment services, wealth protection, personal banking, property investment, and lifestyle banking services for high net worth individuals, international business executives, professionals, entrepreneurs and families.
4. Capital Markets & Trading: Revenue from market-making in African Eurobonds, liquidity provision in G10 Foreign Exchange, USD/NGN Non-Deliverable Forwards, and NGN-denominated securities including Treasury Bills, OMO Bills & Government Bonds.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

FBN Bank (UK) is a specialist international bank facilitating trade between Africa and Europe from offices in London and Lagos. It provides four core service lines: Corporate Banking (trade & commodity finance, cash management, asset-backed lending, structured finance, FX & money market solutions), Institutional Banking (loan syndication, correspondent banking, forfaiting/avalisation), Private Banking (investment, wealth protection, property investment), and Capital Markets (market-making in African Eurobonds and NGN-denominated securities). These are delivered through dedicated relationship managers, an Internet Banking platform, and PSD2-compliant Open Banking APIs.

Product overview

FirstBank UK operates as a specialist international bank providing a comprehensive portfolio of banking products and services organized around four core divisions: Corporate Banking (Trade & Commodity Finance, Cash Management, Asset Backed Lending, Structured Finance, Corporate Lending & Advice, FX & Money Market Solutions), Institutional Banking (Loan Syndication & Distribution, Trade Finance, Correspondent Banking, Cash Management & Payment Solutions, Forfaiting/Avalisation of Drafts, Deposits), Private Banking (Investment, Wealth Protection, Personal Banking, Property Investment, Lifestyle), and Capital Markets (African Eurobonds, African Foreign Exchange, NGN-denominated securities including Treasury Bills, OMO Bills and Government Bonds). These core products are supported by digital channels including the Internet Banking Platform, Client Portal, and Open Banking API. Security features including 3D Secure for debit cards, Secure Digital Token for payment authentication, and Strong Customer Authentication (SCA) protect all service channels. The bank serves as a gateway for African trade and investment, facilitating trade flows between Africa and Europe from offices in London and Lagos.

Differentiator

Problem solved

Functional benefit

Products and services

• Corporate Banking Banking services for corporate clients including trade & commodity finance, cash management & payment solutions, asset-backed lending, structured finance, corporate lending & advice, and FX & money market solutions, designed to support business growth in Europe, Africa, and the Middle East.
• Institutional Banking Banking services for financial institutions, sovereign entities, and global exporters including loan syndication and distribution, trade finance, correspondent banking, deposits, payment solutions, and forfaiting/avalisation of drafts to facilitate trade flows into and out of African markets.
• Private Banking Banking services for high net worth individuals including investment services, wealth protection, personal banking, property investment, and lifestyle solutions with personalized service through dedicated relationship managers.
• Capital Markets Market-making services in African Eurobonds, African foreign exchange, and NGN-denominated securities including Treasury Bills, OMO Bills, and Government Bonds, providing liquidity and trading capabilities in African financial markets through a Single-Dealer Trading Platform.
• Trade & Commodity Finance Specialized financing solutions for trade transactions and commodity trading activities supporting international trade flows between Africa and Europe.
• Cash Management & Payment Solutions Cash management and payment processing services enabling efficient handling of domestic and international payment flows across major currencies.
• Asset Backed Lending Lending solutions secured by physical assets, providing financing options backed by collateral for corporate clients.
• Structured Finance Complex financing arrangements tailored to specific corporate requirements, often involving multiple parties and customized repayment structures.
• FX & Money Market Solutions Foreign exchange services and money market instruments enabling clients to manage currency exposure and access liquidity in G10 currencies.
• Correspondent Banking Banking services provided to other banks, acting as an intermediary to facilitate trade finance and cross-border transactions for African financial institutions.
• Forfaiting & Avalisation of Drafts Trade finance instruments enabling the purchase of trade receivables at a discount and guaranteeing drafts to facilitate international trade transactions.
• Wealth Management Comprehensive wealth management services including advisory, execution-only services, and access to investment products for private clients.
• Debit Card Services Debit card services with 3D Secure protection for secure online shopping, featuring Strong Customer Authentication (SCA) compliance and 24-hour customer support for lost or stolen cards.
• Open Banking API Platform UK Government-mandated PSD2-compliant Open Banking API platform enabling customers to share account information with authorized third-party providers and allowing payment initiation through regulated fintechs and other financial service providers, hosted on Oracle Cloud with OAuth 2.0 JWT authentication.
• Internet Banking Platform Online banking platform enabling customers to access accounts, make payments, view transactions, and manage banking services digitally with security features including session timeouts and digital token authentication for payment authorization.
• Client Portal Online portal providing clients access to account management, loan services, and consolidated banking services through a secure web interface.

Quantifiable outcome

• Best Trade Finance Bank in West Africa for 5 consecutive years - Global Trade Review

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• First Bank of Nigeria Limited (Parent Company)coreOthersFirstBank UK is a wholly owned subsidiary of First Bank of Nigeria Limited, an African bank with heritage established in 1894. The parent company is the premier and largest commercial banking institution in sub-Saharan Africa (excluding South Africa), providing the UK subsidiary with brand strength, market reach, and operational support across 860+ business locations globally.

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Access Bank UK: Access Bank's UK presence provides corporate, institutional, and private banking services with a strong African diaspora focus; comparable in client base, product set, and Africa-UK trade orientation.
• United Bank for Africa (UBA) UK: UBA's London subsidiary is another major Nigerian bank operating in the UK with similar trade and correspondent banking focus; both target Africa-UK trade flows, HNW diaspora clients, and corporate/institutional banking from London.
• Ecobank UK: Ecobank's UK presence offers pan-African trade and correspondent banking with a London base; directly comparable as a pan-African bank subsidiary serving Europe-Africa corridors with corporate and institutional focus.
• Zenith Bank UK: Zenith Bank's UK subsidiary is a Nigerian bank operating from London with comparable trade finance and private banking services; overlaps directly with FBN UK in target customer segments and product mix.
• Guaranty Trust Bank UK (GTBank): GTBank UK is a Nigerian bank's London subsidiary offering similar private, corporate, and trade finance services; directly comparable specialist Nigerian-bank UK presence targeting HNW diaspora and Africa trade flows.

Broad incumbents

• Standard Chartered Bank: Global incumbent with deep Africa franchise, comparable trade finance, Eurobond market-making, and correspondent banking capabilities; competes for the same institutional and corporate clients but at vastly larger scale.
• HSBC: Global incumbent with strong Africa-Asia-Middle East trade corridors and capital markets presence; competes with FBN UK for institutional banking mandates and cross-border trade flows.

Emerging players

• Crown Agents Bank: UK-based specialist bank focused on emerging markets trade finance and correspondent banking; comparable niche positioning and product set serving development corridors, particularly Africa and frontier markets.

Others

• FMO (Netherlands Development Finance Company): Dutch development financier active in African trade, infrastructure, and financial institution lending; comparable as a counterparty and partner in African trade flows, though structured as a DFI rather than commercial bank.

Regional players

• Rand Merchant Bank (Nedbank): African corporate and investment bank with strong commodity, trade finance, and Eurobond market-making capabilities; comparable as an African-headquartered bank with similar capabilities, though primarily operating from South Africa rather than London.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/fbn-bank-uk-limited

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about FBN Bank (UK)