\n The Group raised more than \u20a6400 billion through a series of transactions, including public equity offerings, a convertible instrument, and a minority divestment in one of its subsidiaries.\n <\/p>\n
\n The Nigerian financial services group raised \u20a6144.6 billion through a public offer in July 2024.\n <\/p>\n
\n The offer was oversubscribed by 33% and drew about 42,800 investors. About 92% of the subscriptions were completed through digital channels, including the FCMB mobile banking application.\n <\/p>\n
\n FCMB also raised \u20a622.7 billion through a mandatory convertible note and realised \u20a611 billion from a minority divestment in FCMB Pensions Limited.\n <\/p>\n
\n A second public offer launched in October 2025 raised \u20a6231.8 billion and was oversubscribed by 50.5%.\n <\/p>\n
\n It attracted more than 25,800 investors, with the capital raised almost entirely in Nigeria, reflecting the depth of the domestic capital markets.\n <\/p>\n
\n Following the completion of these transactions and receipt of regulatory approvals, First City Monument Bank Limited has fully met the \u20a6500 billion minimum capital requirement for an international banking licence.\n <\/p>\n
\n Group Chief Executive Ladi Balogun said the recapitalisation strengthens the institution\u2019s capital base and positions the group for its next stage of expansion.\n <\/p>\n
\n “The recapitalisation programme positions the Bank for the next phase of growth. With a strengthened capital base and our international banking licence secured, we plan to expand our regional presence, deepen technology capabilities, and continue to build our ecosystem,” Balogun said.\n <\/p>\n
\n “We remain committed to fostering inclusive, sustainable growth in the communities we serve, from Nigeria to the rest of Africa and increasingly, to the wider global community.\n <\/p>\n
\n We thank our shareholders, investors, the Central Bank of Nigeria, the Securities and Exchange Commission, the Nigerian Exchange Limited, and the National Pension Commission for their support in achieving this milestone.”\n <\/p>\n
\n The capital raise forms part of FCMB\u2019s strategy to strengthen capital adequacy and support expansion across its banking and financial services operations.\n <\/p>\n
\n The strengthened capital base and improving earnings momentum position the group to expand its regional footprint and pursue new growth opportunities across its markets.\n <\/p>\n","protected":false},"excerpt":{"rendered":"The Group raised more than \u20a6400 billion through a series of transactions, including public equity offerings, a convertible…\n","protected":false},"author":2,"featured_media":341927,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,113,61,60],"class_list":{"0":"post-341926","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-ie","11":"tag-ireland"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/341926","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=341926"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/341926\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/341927"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=341926"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=341926"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=341926"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}