FCMB UK obtain permission to expand services
FCMB Bank (UK) Limited has obtained a banking permission to expands its banking services to include personal and business banking services.
The permission was granted by the Prudential Regulation Authority and became effective on the 8th of June 2018. According to a statement from the lender, based on the approval, FCMB Bank (UK) Limited is now able to extend the level of banking services to its corporate and institutional customers.
Mr. James Benoit, Chief Executive Officer of the Bank, commenting on the development, said: “This approval and extension of services is a major achievement, which will enable the Bank 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.”
Mr. BC Achary, Chief Risk Officer of the Bank advises, “with the extension of its services, the Bank is able to receive deposits from both customer segments as well as provide them bank loans to enable them meet their financing needs.
The deposit products on offer include current, notice savings and fixed deposit accounts at competive rates; while its lending products include Buy-to-Let Mortgage Loans enabling target customers to acquire a piece of London and purchase property to include in their investment portfolios.” Mr. Ladi Balogun, CEO of FCMB Group Plc added: “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.”
He explained that the Bank has completed arrangements to formally launch its Personal and Business Banking proposition on the 19th July, 2018 in London and subsequently on 31st July, 2018 in Lagos. Mrs. Stella Okuzu, Head, Personal and Business Banking, explained that as a customer-centric business, both events will enable the Bank to meet with prospective customers, share the Bank’s Personal and Business Banking proposition and obtain first-hand feedback on their banking needs and requirements”.
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