First Securities Discount House Limited, FSDH, has commenced merchant banking operations, promising to leverage on its strong risk management framework to grow in its new line of business.
Speaking during the official unveiling of FSDH Merchant Bank Limited, in Lagos, Managing Director of the company, Mr. Rilwan Belo-Osagie, said the company will, in addition to performing its former functions, now undertake new businesses, such as foreign exchange trading, foreign currency security transactions, give term loans and advances among others.
“Over the years,” he maintained, “we have built a strong and veritable institution founded on trust, integrity, innovation and professionalism, which our customers testify to.”
He said the company plans to improve on its customer service, especially as the commencement of merchant banking operation will enable it offer a broader range of services to its clients thereby, deepening its client relationships and expanding its frontiers.
According to him, while the company does not underestimate the challenges that lie ahead, it is prepared to confront them as opportunities to demonstrate its mettle and to succeed.
“Our vision remains clear, ‘to be a leader in our chosen markets,’ and that is what we will continue to strive for. Our mission is to be a bank of choice creating value for stakeholders through innovation and professionalism.
Belo-Osagie maintained that whilst the company does not underestimate the challenges that it will face, it is however confident that with its corporate culture of customer orientation, high performance, image building, collaboration and learning, all obstacles that may come its way can be surmounted.
He said, “In continuation of the company’s tradition as a pioneer in the finance industry, FSDH has become one of the first merchant banks to be awarded a licence in Nigeria since the repeal of Universal Banking by CBN in 2010.
“Since March 1993 when FSDH began operations as the first discount house in Nigeria, the company has become a financial services group focused on delivering expert financial services to its select clientele, thereby assisting them in achieving their financial goals.
“In order to retain the brand essence and strong brand equity, the company has decided to adopt the name, FSDH Merchant Bank Limited.”
Belo-Osagie commended the Central Bank of Nigeria, CBN, and its stakeholders for their support over the years, saying, “The official unveiling is also an opportunity to thank our numerous stakeholders for their unflinching support and to solicit their continued support as we attain new frontiers.
“The name may have changed, but the culture of customer orientation, high performance, image building, collaboration and learning remains the same. We are excited about our future prospects and invite our partners to come along with us on this journey.”