FCMB TAKES PRESTIGIOUS EUROMONEY AWARD: EMERGES BEST INVESTMENT BANK IN NIGERIA – 12 JULY 2007
In confirmation of its international and superior capital market offerings, First City Monument Bank Plc under its investment banking arm - FCMB Capital Markets Limited, has received the Euromoney Global Award as the “Best Investment Bank in Nigeria” for the year 2007.
The award, which took place in London on Thursday, July 12 during the Annual Euromoney Global Award ceremony, was based on Euromoney investment banking survey 2007 which ranked banks on investment banking business service area, reflecting the opinion of both advisers to private clients and other wealth management companies.
Accepting the award on behalf of the bank, Mr. Ladi Balogun, Chief Executive Officer of FCMB says, “This award is a reflection of the consistency and quality of FCMB Capital Markets (FCMBCM) investment banking business. We are being increasingly recognized for our ability to source international capital to the Nigerian market”.
Ladi Balogun also said “CSL Stockbrokers Limited (CSLS) which is an integral part of our investment bank has also been responsible for broking huge volumes of foreign portfolio investment in the Nigerian market”
The award is a tacit confirmation of the bank’s business growth strategy which is primarily focused on the two highest growth and most exciting sectors in the banking industry – consumer banking and investment banking. FCMB Capital Markets raised over $2 Billion for Nigerian corporate in 2007 alone, proof of its leading status among investment banks in Nigeria. In addition to this, the bank also arranged a $100 Million credit note jointly with HSBC London. Euromoney recently gave this transaction a special mention in its publication and described it as the first of its kind in the African continent.
FCMBCM has a 30 year history in the market and has also begun to expand its activities beyond the shores of Nigeria with a view to becoming one of the leading investment banks on the continent.
Over the years the company has equally received a number of other awards for outstanding financial performance, superior management and dedication to excellence.
In 2005, the bank won the prestigious This Day Award for the ‘Stock Offer of the Year’, an acknowledgement of the success of the bank’s capital raising activities during the banking sector consolidation in Nigeria. FCMBCM was given Special Award by the Securities & Exchange Commission, Nigeria’s apex capital market regulator, in honour of its meritorious services and contributions to the development of the Nigerian capital market. Reuters and SBA Research also adjudged FCMBCM Nigeria’s most consistent issuing house/financial adviser 1993-1998 in 2000. It also won 1999 Platinum Division in the first Reuters sponsored Nigerian Issuing House Awards. In 2000, FCMBCM also received the inaugural Mergers and Acquisitions Award in recognition of its expertise in business combination. It has subsequently received the 2001 and 2002 award in the same category.
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