Tag Archives: FCMB

Legacy Pension Restructures Amidst FCMB Takeover

By Nse Anthony-Uko (Sundiata Finance) – Following the recent acquisition of 60 per cent stake in Legacy Pension Managers by First City Monument Bank (FCMB) Group, bringing its interest in the company to 88 per cent, the Pension Fund Administration (PFA) is now restructuring its management to reflect the interest of the new investor. To this end, the management appointed ...

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Big Banks Deepen Concentration As Profit Gap Widens

(Sundiata Finance) — Nigeria’s big five or tier one banks are deepening their concentration as a percentage of listed lenders market capitalisation, balance sheet size and profitability. Tier one lenders with primary listing in Lagos (First Bank, Zenith, Guaranty Trust Bank, Access Bank and United Bank for Africa), made up 71.68 per cent of the market capitalisation of N2.795 trillion ...

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Stock Market Gains N163bn As 31 Stocks Appreciate

By Nse Anthony-Uko (Sundiata Finance) – The Nigerian stock market rose by N163 billion, on Tuesday as 31 stocks appreciated. In summary, the All Share Index (ASI) gained 474.18 absolute points, representing a gain of 1.26 per cent to close at 37,999.56 points, improving the Year-to-Date returns to 41.4 per cent. Similarly, the market capitalisation gained N163 billion,  to close ...

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FCMB Wins Africa’s Best Environmental Supporting Institution Award

  By Nse Anthony-Uko (Sundiata Finance) — First City Monument Bank (FCMB) has emerged as the Best Environmental Supporting Financial Institution in Africa at the African Clean-up Award for Excellence 2017 held in Ghana on July 8, 2017. The award, organised by African Clean-Up Initiative and endorsed by Let’s Do It World Clean-up Foundation in Estonia, is Africa’s first ever-independent ...

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