First City Monument Bank (FCMB) Plc is a full service banking group, headquartered in Lagos, Nigeria, with the vision ‘to be the premier financial services group of African origin’.
From its early origins in investment banking as City Securities Limited in 1977, FCMB, established in 1982, has emerged as one of the leading financial services institutions in Nigeria and one of the top eight lenders in the country with subsidiaries that are market leaders in their respective segments. FCMB was incorporated as a private limited liability company on 20 April 1982 and granted a banking licence on 11 August 1983. On 15 July 2004, the Bank changed its status from a private limited liability company to a public limited liability company and was listed on the Nigerian Stock Exchange, by introduction, on 21 December 2004. As at December 2012, FCMB had 2 million customers, 271 branches in Nigeria and a presence in the United Kingdom (through its FSA-authorised investment banking subsidiary, FCMB UK) and a representative office in the Republic of South Africa.
Having successfully transformed to a retail and commercial banking-led group, the Bank expects to continue to distinguish itself by delivering exceptional service and taking its unique brand of supportive banking to every household in Nigeria.
More information can be found at www.fcmb.com
17A Tinubu Street,
Tel: +234 1 279 3030
|1977||City Securities Ltd is established.|
|1980s||First City Merchant Bank is licensed in 1982, becoming the first local bank in Nigeria to be established without government support.|
|1990s||The first and, at that time, the largest loan syndication of N70m for the National Fertiliser Company of Nigeria (now NOTORE) is a landmark achievement in 1996.
By the turn of the decade, the bank is a clear leader in investment banking and increasingly attracts and develops highly skilled staff.
Name change from First City Merchant Bank to First City Monument Bank in 2001, following FCMB’s transformation to a universal bank.
Private placement of shares raises over N7bn, followed by conversion to public liability company in 2004. Lists on the Nigerian Stock Exchange in the same year.
Through an initial public offering in 2005, FCMB raises over N16bn towards the N25bn share capital target stipulated by the Central Bank of Nigeria, becoming one of only 25 banks to achieve this target.
FCMB acquires Cooperative Development Bank, Midas Bank and Nigerian American Bank (for Nigerian subsidiary of Bank Boston).
From 26 branches in 2005 (pre-consolidation), the bank grows to 150 branches by 2007. The bank attracts sizeable foreign shareholding. Tier 1 capital raised through public offering from just over N31bn to N133bn.
Strategic alliance with Sabre Capital Worldwide (Mauritius) Limited.