FCMB Bank (UK) Limited, an independently incorporated subsidiary of First City Monument Bank Limited , has introduced its Personal and Business banking proposition in London, United Kingdom and Lagos, Nigeria at an impressive ceremony attended by the top men and women of the business community within and from outside the country.
The development follows the latest variation of permission obtained by the United Kingdom based Bank to extend its services to include retail investments for individuals and business enterprises. This is in addition to the existing wholesale deposit taking activities, foreign exchange, treasury, corporate banking and trade finance offerings to corporate and institutional customers of FCMB Bank Limited.
The variation of permission was granted by the Prudential Regulation Authority, the financial services regulatory body of the United Kingdom, and it became effective on June 8, 2018.
The Personal and Business banking proposition of FCMB Bank Limited is anchored on the Bank’s London Leverage and Africa Awareness. It will enable the financial institution deliver its promise of being the Corporate and Private Bank for African-oriented entrepreneurs, investors and professionals across all their banking needs.
Operating in the City of London, FCMB Bank Limited began its operations as a BIPRU €50k investment firm in September 2009 with CSL Stockbrokers which is another subsidiary of FCMB Group Plc, providing the services of “receiving and transmitting” institutional client orders for Nigerian listed securities. Subsequent to the variation of its permission on September 27, 2013, the Bank commenced wholesale deposit taking activities across various segments.
