First HoldCo Plc has announced the successful completion of its divestment from its merchant banking subsidiary, FBNQuest Merchant Bank Limited, marking a major strategic shift aimed at strengthening the Group's core operations.
In a statement issued by the company, First HoldCo said the divestment, which saw FBNQuest Merchant Bank Limited transferred to the EverQuest Group, would enable the Group to optimise resource allocation and reinforce its focus on delivering comprehensive financial solutions across its businesses.
The proceeds from the transaction will be deployed to strengthen the capital base of First HoldCo's flagship subsidiary, FirstBank, while the Group also intensifies investments in technology-driven innovations to enhance customer engagement, improve service delivery and redefine overall client experience.
