First City Monument Bank Limited
Status: Approved investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer?
First City Monument Bank Limited (FCMB) is a Tier II commercial Bank and a longstanding client of FMO. Established in 1982, FCMB is a core subsidiary of FCMB Group Plc, listed on the Nigerian Stock Exchange. The bank serves over 10 million customers through more than 200 branches and a rapidly growing digital platform. Its universal banking model spans six segments: Personal, Small and Medium-sized Enterprises (SMEs), Commercial, Corporate, Institutional, and Treasury & Financial Markets. FCMB has a strong strategic focus on financial inclusion and SME development and was recognized as Nigeria’s Best SME-Focused Bank in November 2025 by the Chartered Institute of Bankers of Nigeria.
What is our funding objective?
The subordinated debt facility of USD 50mln, eligible for Tier II capital as per Central Bank regulation, reinforces FCMB’s regulatory capital base and support its growth strategy under Nigeria’s evolving banking regulations. FMO is contributing USD 30mln, including USD 26mln from FMO-A and USD 4mln from Privium Impact Fund, while European Financing Partners (EFP) will provide USD 20 million. Proceeds will be earmarked for underserved Micro, Small and Medium-sized Enterprises (MSMEs) (40%), general SMEs (40%), and green projects in accordance with FMO Master Green List (20%), advancing FMO’s Reducing Inequalities and Climate Action targets.
Why do we fund this investment?
With this investment, FMO strengthens FCMB’s capital position under Nigeria’s recapitalization framework, ensuring resilience and enabling the bank to expand its lending capacity to corporates and MSMEs. The transaction qualifies for 40% Reducing Inequalities and 20% Green labels, enabling FCMB to channel financing toward underserved MSMEs—including women-owned, youth-led, and rural enterprises—as well as toward climate-aligned projects consistent with FMO’s Master Green List. By addressing structural gaps in access to finance and supporting green growth, this partnership drives job creation, fosters inclusive economic development, and aligns with FMO’s Reducing Inequalities and Climate Action strategies.
What is the Environmental and Social categorization rationale?
FCMB is classified as E&S Risk and Impact Category A under FMO’s policy. The bank’s portfolio includes exposure to sectors that present elevated environmental and social risks, such as construction, agriculture, power and energy, and oil & gas. FCMB manages these risks through the implementation of a robust Environmental and Social Management System (ESMS), which is overseen by its Board Risk and Compliance Committee. The bank has embedded sustainability into its corporate policies and adheres to the Nigerian Sustainable Banking Principles. Its commitments are further demonstrated by initiatives to strengthen E&S governance, implement an agreed Environmental and Social Action Plan (ESAP), and expand green lending. FCMB aims to grow its climate-friendly portfolio significantly in the coming years, reinforcing its ambition to contribute to sustainable development and responsible banking practices.
More investments
| Date | Total FMO financing |
|---|---|
| 10/3/2023 | USD 30.00 MLN |
| 10/13/2025 | USD 20.00 MLN |
| 7/10/2020 | USD 10.00 MLN |
| 7/10/2020 | USD 25.00 MLN |
- Website customer/investment
- https://www.fcmb.com/
- Region
- Africa
- Country
- Nigeria
- Sector
- Financial Institutions
- Publication date
- 2/9/2026
- Effective date
- 12/12/2025
- Total FMO financing
- USD 30.00 MLN
- Funding
- FMO NV
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - A