First City Monument Bank

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’.

Overview

FCMB is a large financial services provider in Nigeria, offering retail banking, corporate banking and investment banking services to large corporations, small and medium enterprises, as well as individuals. As of December 2011, the bank's total assets were valued at US$$3.65 billion (NGN:593.3 billion), with shareholders' equity of approximately US$772.2 million (NGN:117.4 billion).

History

The entity from which the bank was founded City Securities Limited, was established in 1977. First City Monument Bank Ltd. was incorporated as a private limited liability company on 20 April 1982 and granted a banking licence on 11 August 1983. It was the first bank to be established in Nigeria without government or foreign support. On 15 July 2004, FCMB changed its status from a private limited liability company to a public limited liability company and was listed on the Nigerian Stock Exchange (NSE) by introduction on 21 December 2004.