This talk will explore the heritage of First Bank and its nation-building role in its 125 years of existence, which includes a demonstrable commitment to inclusive growth. It will equally share some insights regarding the Bank’s positioning to further drive financial inclusion in Africa for the next 125 years.

The Next 125 years: the role of financial institutions in driving financial inclusion in Africa

By Dr Adesola Adeduntan; CEO - First Bank of Nigeria

Globally, the banking industry is facing disappointing returns and sluggish growth. For seven consecutive years, its return on equity (ROE) has stayed in a narrowly defined range, between 8 and 10 %—a level that most consider the industry’s cost of equity. Moreover, the industry’s global revenue growth rate slowed to 3 % in 2016, down from an annual average of 6 % over the preceding five years.

Africa’s banking sector provides a refreshing contrast. Its markets are fast growing and nearly twice as profitable as the global average. Although competition is heightening and regulation is tightening, there is still much room to grow: Africa’s retail-banking penetration stands at just 38 % of GDP, which is half the global average for emerging markets. The Nigerian Banking sector maintains stability and growth. For example total assets for commercial and non-interest banks grew by 12.4% in 2016, reaching $112bn by the year's end. This followed 2.5% asset growth in 2015 and a 13.1% increase in 2014.

As Brexit concerns continue to impact business confidence in the UK, the Sustainable Business Initiative at the University of Edinburgh Business School through its Scottish Business in Africa Forum (SBIAF), will be curating a series of talks that showcase global opportunities, especially in developing and emerging markets - Africa.

This talk will explore the heritage of First Bank and its nation-building role in its 125 years of existence, which includes a demonstrable commitment to inclusive growth. It will equally share some insights regarding the Bank’s positioning to further drive financial inclusion in Africa for the next 125 years, and explore possible opportunities for post-Brexit UK.

This is of interest to students, staff, and the Edinburgh financial community.

18:00 - 18:30 Tea, coffee and biscuits

18:30 - 20:00 Talk commences

20:00 - 20:30 Drinks Reception