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Tag: FCMB

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Ex-FCMB bank manager jailed 121 years for N112m fraud

Former First City Monument Bank manager, Nwachukwu Placidus, has been sentenced to 121 years in prison for embezzling N112 million from a customer’s fixed deposit account by Justice S. N. Odili of the Anambra State High Court in Onitsha, Anambra state. Placidus was arraigned on Tuesday, March 27, 2018, on 16-count charges bordering on forgery, […]

Banking

FCMB’s digital revenue rises to N60bn

FCMB Group Plc has disclosed its digital revenue increased by 62.4 per cent to N60.3 billion in 2023 compared to N37.1 billion in the previous year. This was disclosed by FCMB Group in its audited financial statements for 2023 filed with the Nigerian Exchange Limited, according to The Punch. In line with an increase in […]

Global efforts intensify to address submarine cable ruptures
Banking

Banks suggest alternatives amid internet banking outage

As mobile applications and internet banking services continue to be unavailable for the second day in a row, some commercial banks affected by the undersea cable damage are now advising their customers to use alternative channels. First City Monument Bank particularly, in a message to its customers on Friday, urged them to use its ATMs […]

FCMB raises ₦147.5bn in oversubscribed public offer
Business

FCMB announces accelerator program for one million SMEs

First City Monument Bank has started an accelerator program aimed at helping over a million small and medium-sized businesses in Nigeria expand and improve their skills. According to a statement from the bank on Tuesday, the campaign will be carried out in collaboration with other business leaders and the e-learning portal SkillPaddy. Accelerator programs offer extensive supervision, structure, […]

FCMB raises ₦147.5bn in oversubscribed public offer
Banking

FCMB increases earnings by 207% to N95bn

FCMB Group has recorded a 206.86 per cent increase in profit for the fiscal year ending December 2023 to N95.52 billion. According to The PUNCH, this was revealed in the unaudited annual report and financial accounts submitted to the Nigerian Exchange Limited on Friday. FCMB’s profit was enhanced by gains in interest and discount revenue of […]

FCMB raises ₦147.5bn in oversubscribed public offer
Banking

FCMB reports gross earnings of N516.8bn in 2023

FCMB Group Plc has released its unaudited annual report and financial statements for fiscal year 2023. The Times reported that the group’s gross earnings for the year was N516.8 billion, up 82.6% from FY 2022. The firm enjoyed improved interest revenue, with a net interest income of N177.42 billion in 2023, up 45.4% from 2022. It also […]

FCMB raises ₦147.5bn in oversubscribed public offer
Business

FCMB Capital Markets receives award for corporate bonds

The Nigerian Exchange Limited has named FCMB Capital Markets Limited, an affiliate of FCMB Group Plc’s Investment Banking division, the ‘Issuing House with the Highest Number of Listed Debt Issuances’, popularly known as Corporate Bonds. The PUNCH reported that the prize was presented to the company during the annual NGX Made of Africa Awards, which were […]

FCMB raises ₦147.5bn in oversubscribed public offer
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FCMB posts N20.69bn bond on NGX

The Nigerian Exchange Limited has listed a N20.69 billion bond issued by the FCMB Group. According to The Punch, the NGX stated that the lender’s memorandum listing of the bond is under FCMB’s N300bn Debt Issuance Program in a market bulletin sent to capital market operators and signed by the Head, Listings Regulation Department of NGX Regulation, Lilian […]

FCMB raises ₦147.5bn in oversubscribed public offer
Business

FCMB Group records 148% growth H1 2023

FCMB Group Plc reported excellent results across all major metrics, with a 148% increase in profit before tax of N38.2 billion from January to June this year compared to N15.4 billion in the same period of 2022. Highlights from the diverse Group’s unaudited six-month results, which were made public on the Nigerian Exchange Limited floor, revealed […]

10 facts about late FCMB founder Subomi Balogun
News

10 facts about late FCMB founder Subomi Balogun

  Nigerians especially the banking sector was thrown into a state of mourning following the death of prominent Nigerian business man and banker, Otunba Subomi Balogun, on Friday. AM Business reported that the founder First City Monument Bank was reported to have died in a London Hospital after a brief illness. Below are some facts […]

FCMB Founder Otunba Subomi Balogun is dead
News

FCMB Founder Otunba Subomi Balogun is dead

    He dead on Friday morning at a London hospital after a brief illness. He was 89. Otunba Balogun was a direct descendant of Oba Tunwase of Ijebu-Ode. He was until his death held many chieftaincy titles, and the most prominent is Tunwase of Ijebuland. More details later…

FCMB raises ₦147.5bn in oversubscribed public offer
Housing

FCMB, real estate companies collaborate on affordable housing in Lagos

First City Monument Bank has teamed with Brains & Hammers Ltd and Brooks Assets & Resources Limited to provide affordable housing for salaried and self-employed people of Lagos State, allowing them to realize their dream of home ownership. Vanguard reported that the arrangement would enable FCMB clients and other Nigerians to buy homes or acquire land […]

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