FCMB Group Plc has successfully raised N110.94 billion through a capital increase exercise. The funds raised will be used to strengthen the bank‘s balance sheet, enhance customer banking experiences, support community development, and generate value for shareholders.
The capital raise was supported by the Central Bank of Nigeria (CBN), Securities and Exchange Commission (SEC), and Nigerian Exchange Group (NGX Group). The CBN provided regulatory guidance and support, while the SEC ensured market confidence and the NGX Group facilitated the digital subscription process through its NGX Invest platform.
The successful capital raise demonstrates the confidence investors have in FCMB Group and its future prospects. The funds raised will enable the bank to expand its operations, invest in new technology, and offer better products and services to its customers.
The capital raise is also a positive development for the Nigerian financial sector. It shows that the country’s capital markets are capable of attracting significant investment and supporting the growth of businesses.
FCMB Group is optimistic about its future and believes that the successful capital raise will help the bank to achieve its strategic objectives. The bank is committed to fostering shared prosperity and creating a better world for future generations.
