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FCMB Group Plc says it has achieved a verified capital base of N288.96 billion as it moves closer to meeting the new recapitalisation requirements set by the Central Bank of Nigeria (CBN).
The financial services group is now awaiting final validation from the regulator as it works toward meeting the N500 billion minimum capital threshold required for banks with international licences.
The current capital position follows a two-phase fundraising strategy undertaken by the group. While the amount brings the bank closer to the required level, FCMB said ongoing market activities and pending regulatory approvals are expected to help bridge the remaining gap.
Group Chief Executive Officer Ladi Balogun said the additional capital will support the bank’s growth strategy and strengthen its financial position.
“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,” Balogun said during a recent engagement with stakeholders.
FCMB’s recapitalisation effort included a two-stage public fundraising programme. The first phase generated N147.5 billion, while the second phase raised an additional N160 billion.
However, the figures remain subject to formal verification by the CBN, a routine process required for banks seeking to confirm compliance ahead of the March 31, 2026 recapitalisation deadline.
Market analysts say the bank’s proactive capital-raising strategy has placed it within reach of the required threshold.
Balogun also expressed confidence in the group’s financial outlook, projecting strong earnings growth in the coming years.
“We project our earnings per share to grow by over 50% on average over the next two years,” he said, noting that the growth could position the bank to deliver improved shareholder returns and stronger dividend performance.
To ensure compliance with regulatory requirements, the group has also developed a contingency plan that includes the option of raising additional capital through a private placement if necessary.
Industry observers note that meeting the new capital threshold will enhance the bank’s capacity to support larger corporate transactions, expand cross-border banking services, and strengthen its competitive position.
In a regulatory filing, a representative of the group said the public offer and minority divestment initiatives are expected to provide sufficient capital to meet the revised N500 billion requirement, based on verified eligible capital that stood at N266.5 billion toward the end of 2025.
With the March deadline approaching, the bank is awaiting final confirmation from the CBN, which will determine its compliance status under the revised capital framework.
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