Everything boils down to two things, the ability to access credible finance services and expert consultancy alongside a bank that can help with your queries. In recent times, First City Monument Bank (FCMB) has established itself as a reliable partner in offering banking solutions that are aimed at fulfilling the various needs of their customers.
Entrepreneurs, small business owners, or anyone worried about how to save for the future can breathe easy as FCMB has services that cater to all of your needs. In this article, the features of FCMB that set it apart as an exceptional financial service provider and the trends FCMB is following to gain the trust of individuals and businesses are discussed.
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ABOUT First City Monument Bank (FCMB)
The First City Monument Bank is a full-service banking organization with its headquarters in Lagos, Nigeria. It offers solutions that have been shown to be effective in the market and that support digital transformation in the banking industry.
First City Monument Bank (FCMB) Limited is a part of FCMB Group Plc, which is one of the biggest financial services companies in Nigeria and has subsidiaries that are market leaders in their own areas.
FCMB has successfully changed to become a retail and commercial banking-led group, and it plans to keep standing out by providing excellent services that help customers reach their personal and business goals.
Brief History of First City Monument Bank (FCMB)
In 1977, the City Securities Ltd was established, which metamorphosed into the First City Merchant Bank 1982 , becoming the first local bank in Nigeria to be established without government backing..
In 2001, the bank changed its name from First City Merchant Bank to First City Monument Bank, following FCMB’s transformation to a universal bank.
After raising more than N7 billion through private placement of shares, the company was converted into a public liability company in the year 2004. This company was listed on the Nigerian Stock Exchange in the same year.
As a result of the initial public offering that FCMB conducted in 2005, the bank was able to collect more than N16 billion towards the N25 billion share capital target that was mandated by the Central Bank of Nigeria. This achievement made FCMB one of only 25 banks to accomplish this target.
The acquisition of FinBank Plc by FCMB was finalized in February of 2012, and the subsequent merger with FinBank took place in October of that same year.
In compliance with the regulations that were established by the Central Bank of Nigeria, FCMB assumed a holding structure in the month of June 2013. FCMB Group Plc became the holding company for FCMB Ltd. and its subsidiaries as a result of the group restructuring that took place after the initial event.
FCMB Vision
- To be the leading integrated financial services platform with over 25 million customers.
FCMB Mission
- To empower our customers to have confidence in realizing their dreams.
First City Monument Bank (FCMB) Board of Directors
Mr Olutola Oluseni Mobolurin
Chairman
Mrs. Yemisi Edun
Managing Director
Mrs. Oluwatoyin Olaiya
Executive Director, Risk Management and Compliance
Mr. Obaro Odeghe
Executive Director, Wholesale Banking
Mrs. Mfon Usoro
Non-Executive Director
Mr. Roger M. Ellender
Non-Executive Director
Mrs. Olufunmilayo Adedibu
Non-Executive Director
Ms. Olayemi Keri
Non-Executive Director, Independent
Mr. Folabi Esan
Non-Executive Director, Independent
Mr. Ademola Adebise
Non-Executive Director, Independent
What Sets First City Monument Bank Apart From Other Banks?
1. Legacy of Excellence
FCMB started its journey in Nigeria on October 20, 1981. From then, it was one of the earliest banks to be established in the country during that period. Being a true embodiment of what personalized banking should look like, FCMB’s focus in strengthening their relationship with customers enabled them to solve customers’ issues effectively. Therefore, in every single decade since its inception, FCMB has continued to be ranked amongst the leading banks in Africa due to ensuring their customers that they “will do the right thing” all the time.
2. Focus on Creativity
FCMB does not provide customers with basic banking solutions, rather they are always on the quest to better serve their customers who have the ever growing need to be revolved around the digital world. So the bank employs cutting-edge technology to make banking faster, more convenient, and more accessible across mobile devices and the web.
For example, the FCMB Mobile app enables customers to transfer funds seamlessly, pay bills instantly, apply for loans digitally, and even open savings accounts—all from the comfort of their home or office.
3. A Customer-Centric Approach
At the heart of FCMB’s vision is a commitment to serving its customers. Whether you’re an aspiring business owner or an individual striving to secure financial stability, FCMB ensures that your needs are met with tailor-made solutions. Their team of dedicated staff goes the extra mile to assist clients, offering guidance based on years of expertise in the banking sector.
Empowering Businesses with FCMB
1. Supporting SMEs
Recognizing the importance of small and medium-sized enterprises, or SMEs, in driving economic development, FCMB makes a point of helping with such activities. There are plenty of business-centred solutions the bank provides, such as loans to facilitate growth or consultancy services as well as offering free access to various financial instruments.
An exemplary effort would be the SheVentures Loan, where a female entrepreneur wishing to improve her business can tap into this exclusive package. Women can expand and prosper with FCMB with interest free loans, the capacity program and networking opportunities.
2. Reasonable settlement constructs
FCMB’s business model ensures that a range of goals is projected through the various types of loans extended to customers. From loans that are targeted at growing a business to financing equipment, the bank ensures that businesses can always access competitive rates and lower repayment periods to lessen the burden of stress.
For startups, FCMB offers overdraft with a twist and loans for business investments to allow firms to start doing business without wasting time.
3. Payment & Digital Solutions
Now with the powerful array of payment solutions from FCMB, businesses, regardless of their sizes, can enhance the simplicity of their financial transactions. Accepting payments using the bank’s Point of Sale Systems, secure internet banking, and the simple integration of API; enables the business and its customers to have smooth relations as payment is done fast.
First City Monument Bank (FCMB) CSR Strategy
FCMB is aware of the necessity of being a responsible corporate citizen and giving back to the communities in which they conduct business.
The improvement of the living conditions in these communities is an essential component of their overall approach to achieve this goal.
Giving in a way that is both organized and sustainable will allow them to achieve their ultimate aim of having a major social and economic impact on the people they intend to help.
In accordance with the Sustainable Development Goals (UN SDGs) of the United Nations, the primary focus of FCMB social agenda is on reducing poverty, empowering the economy, and ensuring environmental sustainability.
In order to accomplish this, FCMB routinely carry out need-gap evaluations in the areas that they accommodate.
With this information, FCMB are able to more precisely identify the regions that require their assistance the most.
First City Monument Bank (FCMB) Awards and Recognition
- Excellence in FinTech in the Payment Category – October 2023
- Awarded by Finnovex West Africa Summit and Awards 2023
- Award for Contributions Towards Successful Implementation of the Feed the Future Nigeria Agribusiness Investment Activity – October 2023
- Awarded by USAID Feed the Future Nigeria Agribusiness Investment Award 2023
- Honourable Mention in the SME Financier of the Year – Africa category – September 2023
- Awarded by Global SME Finance Awards 2023
- Best Bank with the Highest Impact on SMEs in Nigeria – October 2022
- Awarded by Development Bank of Nigeria (DBN)
- Best SME Bank in Africa – August 2021
- Awarded by Asian Banker Middle East & Africa Awards 2021
- Best SME Bank in Nigeria – August 2021
- Awarded by Asian Banker Middle East & Africa Awards 2021
- Platinum Award – October 2021
- Awarded by Development Bank of Nigeria, DBN
- Best Participating Financial Institution with Most Impact on Total End-Borrowers Financed – October 2021
- Awarded by Development Bank of Nigeria, DBN
- SME Financier of the Year – October 2021
- Awarded by Global SME Finance Summit and Awards 2021, organized by International Finance Corporation
- Best Bank for Women Entrepreneurs – October 2021
- Awarded by Global SME Finance Summit and Awards 2021, organized by International Finance Corporation
Working with FCMB: Job Opportunities at FCMB
FCMB recognizes that in order to achieve a competitive edge, it is essential to hire persons who possess the following characteristics: SKILL, CREATIVE, MOTIVATED, FLEXIBLE, and COMMITTED.
It is anticipated by these experts that they will produce excellent and sustainable performance by adhering to the ideals of the Bank and by establishing connections based on trust.
Looking for a job at FCMB?
Please contact FCMB by sending an email to
if you would like more information about the human resources policy of FCMB or if you would like to apply for a position at FCMB.you can visit the career page of FCMB:
Also see: FCMB Past Questions And Answers: Free PDF Download
Concluding Thoughts
First City Monument Bank has consistently proven its ability to meet the dynamic needs of its customers while embodying innovation, reliability, and trust.
Whether you want to improve your personal savings, grow your business, or simply take control of your finances, FCMB is here to help.
Sign up today and experience the difference a world-class bank can make in your life and business.
Visit FCMB’s website to learn more.
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