FCMB Group lends N20.68 billion from the bond market to finance corporates, other financial institutions, Trustees and high net-worth individuals.
The fund, raised under FCMB’s N300,000,000,000 Debt Issuance Programme in the Nigerian capital market, will be invested in the Group’s banking subsidiary – First City Monument Bank Limited – to enhance the Bank’s Tier 1 and total capital adequacy ratios.
This will enable the Group and the subsidiary to expand its support for the growth and development of the Nigerian economy, a statement obtained on Friday, but dated March 16, 2023, discloses.
