Shareholders of FCMB Group Plc have approved an increase in capital raise of up to N400 billion.

The approval was given during an Extraordinary General Meeting (EGM) on Monday, December 8, 2025. The approval for the expanded capital raise reflects the group’s exceptional financial performance and shows shareholders’ unwavering confidence in its leadership and bold growth ambitions, the group said.

Following the approval, FCMB Group will meet the minimum regulatory capital for banks with an international licence ahead of the March 2026 deadline. This achievement will allow FCMB to retain its international banking licence for its subsidiary, First City Monument Bank Limited and aligns with the Central Bank of Nigeria’s (CBN) minimum capital requirements.

The Group Chief Executive Officer, Ladi Balogun, expressed profound gratitude to shareholders for their support and emphasised the strategic importance of the capital raise.

“The additional capital will be deployed to strengthen our capital adequacy ratio and accelerate growth. We will invest in human capital and technology, support our international expansion, and reduce high-cost deposits. We project our earnings per share (EPS) to grow by over 50 per cent on average over the next two years. This positions FCMB to outperform the market while delivering stronger dividends and shareholder returns,” he said at the EGM.

He added: “With the capital adequacy ratio projected above 20 per cent, our ability to pay dividends will improve significantly. Shareholders can expect a steady rise in dividends per share, reflecting the bank’s growth trajectory and enhanced returns.”