Here you'll find the latest news on our products and promotions. First City Monument Bank (FCMB) Ltd is a full service banking group, headquartered in Lagos, Nigeria with the vision to be the Premier Financial Services Group of African origin. FCMB Ltd is the flagship company of the First City Group, one of Nigeria’s leading comprehensive financial services providers. From its early origins in inv
estment banking as City Securities Limited in 1977, FCMB (established in 1982) has emerged as one of the leading financial services institutions in Nigeria, 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 April 20, 1982 and granted a banking licence on August 11, 1983. On July 15, 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 December 21, 2004. The Bank has witnessed virtually uninterrupted growth for 30 years and employs over 3000 employees. It completed the acquisition of FinBank Plc in February 2012 and subsequently merged with FinBank in October 2012. Following the merger, the FCMB Group now has 2 million customers, 275 branches and cash-centres spread across every state of the Federal Republic of Nigeria and a presence in the United Kingdom (through its FSA-authorised investment banking subsidiary, FCMB UK). FCMB offers financial services across the Federal Republic of Nigeria. As a leading financial services provider, FCMB is committed to serving the interests of its shareholders, customers, staff and the community. The globalisation of business activity, the expansion of financial markets and the sustained growth of emerging economies, particularly in Africa, are trends for which FCMB, with its focus on Retail & Commercial, Corporate and Transaction Banking is well prepared. The ambition to be the premier financial services group of African origin has led to its assembling of what is arguably the most diverse and outstanding management team in the Nigerian banking industry while a firm commitment to qualitative customer experience has resulted in the application of global standards of Quality Management within the bank. FCMB’s success has been recognised by many industry awards over the years both nationally and internationally. In 2008, it won the Euromoney award for the Best Equity House (Nigeria) and was named the Best Investment Bank in Nigeria at the Euromoney 2007 Awards for Excellence. The Bank had been adjudged Nigeria’s most consistent issuing house/financial advisor 1993–1998 by Reuters and SBA Research Limited in June 2000 and was also the winner of the 1999 Platinum Division in the first Reuters sponsored Nigerian Issuing House Awards. In 2000, FCMB also received the inaugural Mergers and Acquisitions award in recognition of its expertise in this area. It has subsequently received the 2001 and 2002 award in the same category. FCMB is the first and only bank in Nigeria to have held these diverse awards at the same time, and remains the only institution to have won the Mergers and Acquisitions award for three consecutive years. In recent times the Bank has also received recognition for its successful forays outside investment banking, with nomination in 2009 for the most innovative bank in Africa by African Banker Magazine. Our business is structured along one market-facing division (Corporate Banking), three regions and six associated companies. The regions are Lagos & South West, South-South & South-East and Abuja & North and are responsible for the Retail, Commercial and Public Sector segments. FCMB’s commitment is to be better for all our customers by continually being Simple, Reliable and Supportive to their businesses. Consequently, our key value proposition is built around providing simple and easy to use products, convenient processes and simple communication; continually investing in technology and system uptime and; providing access to retail credit and invest in the quality of our relationship management (insights, people, technology). Associated companies
FCMB’s associated companies are positioned to be and are invariably leaders in their respective markets. They also provide significant cross-sell synergies and economies of scope for the Group, making the whole greater than the sum of its parts. FCMB (UK) Limited
(100% ownership)
This is an investment banking firm, established to service the international corporate finance and investment service requirements of its client base and broaden the reach of its stockbroking services to the UK investors. Its stockbroking division CSL UK is recognised as one of the City of London’s leading research and securities distribution firms for Nigerian securities. Services include:
• Corporate Finance
• Securities Research
• Sales and Trading
• Representative Office for FCMB Plc. FCMB Capital Markets Limited
(100% ownership)
FCMB Capital Markets Limited is licensed by the Nigerian Securities and Exchange Commission as an issuing house and financial advisor, FCMB Capital Markets Limited is the local investment banking advisory arm of the Group, specialising in equity and debt capital raising, M&A advisory and other forms of financial advice to top-tier corporates. FCMB Capital Markets remains a market leader in its field. Credit Direct Limited
(100% ownership)
Credit Direct Limited (CDL) is one of Nigeria’s leading micro-lending organisations in terms of profitability, asset quality and customer experience. CDL is also the fastest growing micro-lender in Nigeria. CSL Stockbrokers Limited
(100% ownership from November 2009)
Useful information on FCMB
• Licensed in 1982 and commenced banking operations in August 1983
• First wholly indigenous merchant bank to be established in Nigeria
• Changed its name from First City Merchant Bank to First City Monument Bank in December 2000 and adopted universal banking in 2001
• In December 2004, FCMB PLC shares were listed by way of introduction on the Nigerian Stock Exchange (NSE)
• Public company, listed on the Nigerian Stock Exchange in 2004
• Initial public offering in 2005
• Financial year end: December 31
• Credit rating: ‘A-’ Long Term counterparty credit rating (GCR Rating); ‘B+’ long term (Standard & Poor’s)
