FCMB Group shareholders just greenlit a massive capital increase of four hundred billion naira. The vote happened at a special meeting, showing strong investor faith in the bank's leadership and growth plans. This move lets the group meet the Central Bank of Nigeria's capital rules for an international license well before the 2026 deadline, allowing its main banking subsidiary to keep operating globally.
The Group CEO thanked shareholders, stating the new funds will boost the capital adequacy ratio and fuel expansion. The money is earmarked for technology upgrades, staff development, and international growth, while also cutting down on expensive deposits. The bank forecasts its earnings per share will jump more than fifty percent on average in the next two years. They also project a capital ratio above twenty percent, which should lead to steadily increasing dividend payments for investors.
Shareholders passed other key resolutions, including approval to accept any oversubscription from a recent public share offer within regulatory limits. They also approved a necessary increase to the company's total share capital. With a varied portfolio and solid financials, FCMB says its digital strategy and broader purpose position it to help push Nigeria toward its economic growth targets.
The Group CEO thanked shareholders, stating the new funds will boost the capital adequacy ratio and fuel expansion. The money is earmarked for technology upgrades, staff development, and international growth, while also cutting down on expensive deposits. The bank forecasts its earnings per share will jump more than fifty percent on average in the next two years. They also project a capital ratio above twenty percent, which should lead to steadily increasing dividend payments for investors.
Shareholders passed other key resolutions, including approval to accept any oversubscription from a recent public share offer within regulatory limits. They also approved a necessary increase to the company's total share capital. With a varied portfolio and solid financials, FCMB says its digital strategy and broader purpose position it to help push Nigeria toward its economic growth targets.
