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FCMB Group has completed a multi-year capital raise, hitting Nigeria's $359 million threshold and locking in its international banking license ahead of the deadline.
FCMB shares rise toward a 52-week high after $13.9 million in cross deals drive heavy trading on the Exchange.
FCMB, led by Nigerian banker Ladi Balogun, forecasts Q1 2026 profit to reach $44 million amid strong banking growth.
FCMB Group secures shareholder approval for a $274 million capital raise as Ladi Balogun moves to meet CBN recapitalization rules.
FCMB posts $570 million in nine-month earnings under Ladi Balogun, driven by strong interest income and rising profit.
FCMB Group, led by Ladi Balogun, reported strong Q1 2025 results with gross earnings of $157 million, solidifying its position among Nigeria’s top financial institutions.
The bank issued 19.8 billion new shares, priced at N7.3 ($0.005) each, bringing in over 39,000 new investors—underscoring rising interest in the bank.
The bank targets diversified revenue growth, strong cash inflow, and operational efficiency in its Q1 2025 outlook.
FCMB Group posts a 68-percent increase in profit after tax for Q3 2024, fueled by robust growth in interest income, fee-based income, and strategic cost control.
This move is aimed at strengthening the bank's financial foundation and supporting its expansion within Africa's financial markets.
