Proshare Logo
   Market Date: 30-01-2015   
Agriculture ARTS FINANCE All One Min News Archives Bonds Cap Mkt Sentiments Capital Market CASHLESS NIGERIA Commodities Corporate Earnings Daily & Weekly Market Updates Elections Enterpreneurship ETFs Forex Frauds & Scandals General Global Market Insurance Investors NewsBeat Islamic Finance Mergers & Aquisitions Money Market Mortgage Mutual Funds Nigeria Economy Oil Sector Opinions and Analysis Pensions People Personal Finance Politics Power Products & Services Professionals Property Public Offers Private Placements Regulators REITs Stock PICKS Taxation Telcos Travel & Tours Unlisted OTC MARKET World of Business

First City Monument Bank Plc: Proposed Combination

Category: Investors NewsBeat

  Read (2827)
First City Monument Bank Plc: Proposed Combination



May 6, 2011
First City Monument Bank (FCMB) Plc has notified The Exchange that its’ directors and that of FinBank Plc have executed a Memorandum of Understanding for the merger of both Banks in other to recapitalize FinBank Plc. Transaction completion is subject to the approval of the Central Bank of Nigeria, other regulatory agencies, the Federal High Court and the shareholders of both Banks.      
The combined bank would be a significant player in the Nigerian banking industry with substantial enhancement to share of industry assets and revenues. The bank will offer a comprehensive suite of banking services drawing from both FCMB’s capabilities in investment banking, corporate banking and retail finance, and FinBank’s complementary capabilities in commercial retail banking.
The combination according to FCMB Plc will be underpinned by a strong risk management and corporate governance regime, and will result in a well capitalized, stable and strong banking platform benefiting customers and shareholders alike. The combination in addition will enable the realization of synergies which will further drive the profitability of the bank. The integration process will benefit from FCMB’s experience in successfully and swiftly integrating several banks and delivering improved returns to shareholders of both organizations.

Tags: , 

Comment With Your Facebook or Yahoo! ID

Latest news

News on Investors NewsBeat

About Us

Who We Are
Our Team & Partners
Corporate Governance
Advertise with Us
Subscribe / Unsubscribe
Site Map
News Feed - RSS
Contact Us
Volunteer Program
Message from CEO

News & Features
The Analyst / Market Data
Investor Relations Portal
The Regulator
Economy & Politics
Training Portal
Events Calendar
NewsStands - Online Reputation

Products and Services

Research & Market Intelligence
Analyst Services
Offers & Rights Support Service
Investor Relations Services
Alert & Subscription Services
Share Support Services
Proshare Consult
Event & Seminar Coverage
Market Directory
File a Complaint
News & Analysis

News from TheANALYST
Video News from WebTV
Money Market Updates
Opinions & Analysis
Nigerian Economy
Market Data
The Regulator
Discussion Forum

Subscriber Agreement
Privacy Policy
Data Policy
Copyright Policy
Comments in Site
Advertising Code
Conflict of Interest
Content Partnership
3rd Parties

Online Trading and Execution
Legal Support Services
Web/Technology Services
File a Complaint

CBN Governor 2014