By theG&BJournal
MON MAR 09 2026-theGBJournal| First City Monument Bank (FCMB) Group Plc has successfully completed its capital raise, paving the way for the bank to secure an international banking licence and significantly expand its global footprint.
The milestone marks a major strategic step for the financial services group as it strengthens its capital base in line with regulatory requirements and its long-term growth ambitions.
The Group has already received requisite approvals from the Central Bank of Nigeria (CBN), the Securities and Exchange Commission (SEC), and the National Pension Commission (PenCom) – in respect of the 2025 Public Offer, which raised approximately N231.8 billion in gross proceeds, and the minority divestment of approximately 10% of the issued share capital of FCMB Pensions Limited, which raised an additional N11.0 billion.
”Together, the public offer and minority divestment provide sufficient capital for the Bank to meet the revised N500 billion minimum capital requirement for an international banking licence,” FCMB Group Chief Executive, Mr. Ladi Balogun said in a statement today.
”This is based on verified eligible capital (paid-up share capital and share premium) of N266.5 billion as at 31 December 2025,” he added.
The successful capital injection positions FCMB to scale its operations beyond Nigeria’s borders, enabling the bank to deepen cross-border trade financing, broaden its correspondent banking relationships, and enhance service delivery to multinational clients and Nigerian businesses operating internationally.
The capital raise also aligns with ongoing reforms in Nigeria’s banking sector aimed at strengthening financial institutions’ resilience and capacity to support economic growth.
By bolstering its capital structure, FCMB is expected to enhance its competitiveness while positioning itself among lenders capable of operating at a broader international level.
Market observers say the move will allow the bank to leverage new opportunities in regional and global markets, particularly in trade finance, diaspora banking, and corporate banking services.
FCMB Capital Markets, Coronation Merchant Bank Limited, Capital Bancorp Plc and FSDH Capital led the capital raise as Joint Issuing Houses.
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