FCMB Group, owners of First City Monument Bank, will explore cutting back its ownership in subsidiaries to measure up to the expectation that its banking business raise core capital (excluding equity) to at least half a trillion naira by March 2026.
A meeting convened by the board of directors will ask shareholders next month to, among other options, assent to a plan by the lender to give up part of its interests in subsidiaries to potential investors in return for cash.
Proceeds from the deal, if that route, could help the lender meet the new capital requirements.
