First City Monument Bank

Nigerian bank

First City Monument Bank (FCMB), a member of FCMB Group Plc. It is a financial services holding company headquartered in Lagos, Nigeria.

First City Monument Bank Ltd (FCMB)
Public: NSE: FCMB
IndustryFinance
Founded20 April 1982
FounderOloye Subomi Balogun
Headquarters,
Nigeria
Area served
Nigeria
United Kingdom
Key people
Oladipupo Jadesimi
Chairman
Ladi Balogun
Group Chief Executive
Yemisi Edun
Managing Director
ServicesBanking
RevenueUS $311.1 million (NGN:127.9 billion) (2020)[1]
Total assetsUS $5 billion (NGN: 2 trillion) (2020)
Number of employees
3,610 (2020)
WebsiteHomepage

HistoryEdit

First City Monument Bank was established in 1977 by Oloye Subomi Balogun. It was incorporated as a private limited liability company in April 1982 and granted a banking license in August 1983.[2][3][4]

SubsidiariesEdit

The subsidiaries of First City Monument Bank are:[5]

  1. FCMB Capital Markets Limited – Investment banking & Advisory services – Lagos, Nigeria
  2. FCMB (United Kingdom) Limited – Investment banking – London, United Kingdom
  3. CSL Stockbrokers Limited – Stock brokerage services – Lagos, Nigeria
  4. FCMB Pensions Limited (Formerly Legacy Pension Fund Administrators) – Abuja, Nigeria
  5. Credit Direct Limited – Microfinance lending – Lagos, Nigeria

ReferencesEdit

  1. "Archived copy" (PDF). Archived from the original (PDF) on 2021-09-29. Retrieved 2022-06-04.{{cite web}}: CS1 maint: archived copy as title (link)
  2. Oshikoya, Temitope W.; Durosinmi-Etti, Kehinde (2019-05-28). Frontier Capital Markets and Investment Banking: Principles and Practice from Nigeria. Routledge. ISBN 978-0-429-57770-3.
  3. "IFC Invests in First City Monument Bank to Support Growth, SME Financing". pressroom.ifc.org. Retrieved 2021-10-10.
  4. "FCMB: Balogun steps down, as Nuru takes over". Vanguard News. 2017-02-20. Retrieved 2021-10-10.
  5. "investorrelations.FIRSTCITYGROUP.COM". investorrelations.firstcitygroup.com. Retrieved 2021-10-10.