- FCMB Expands Banking Services in UK
FCMB Bank (UK) Limited says it has obtained a variation of its banking permission to include retail (investments) services.
The permission, according to a statement, was granted by the Prudential Regulation Authority and became effective on June 8, 2018.
According to the lender, individuals and business enterprises seeking to transact their banking services between Nigeria or other African countries and who desire to maintain a banking relationship in the City of London now have the opportunity to do so.
It said, “Based on this approval, FCMB Bank (UK) Limited is now able to extend the level of excellent banking services its corporate and institutional customers currently receive to high net worth individuals and Small and Medium-scale Enterprises.”
The bank’s Chief Executive Officer, Mr James Benoit, described the approval and extension of services as a major achievement that would enable the bank to deliver its promise of being the corporate and private bank for African-oriented entrepreneurs, investors and professionals across all their banking needs.
“The bank will be expanding its premises and entering into partnerships with Fintech providers to open up service options to our clients and enhance their overall banking experience,” he added.
The CEO, FCMB Group Plc, Mr Ladi Balogun, said, “Our successful UK platform has proven to be of great importance to the Nigeria stockbroking and international trade finance activities of FCMB Group.
“Leveraging our deep networks in Africa’s biggest economy, the importance of a London presence to many of our personal and business banking customers, and technological innovation, we welcome this opportunity to meaningfully serve more of our customers and grow the value of our UK franchise.”
According to the statement, the bank has completed arrangements to formally launch its personal and business banking proposition on July 19, 2018 in London and subsequently on July 31, 2018 in Lagos.
