First Nations Bank sells almost 9-per-cent equity stake to meet growing demand for business loans

First Nation Bank of Canada CEO Bill Lomax in 2023. The Lheidli T’enneh First Nation will acquire 8.64 per cent of FNBC, the bank announced Friday.

First Nations Bank of Canada is raising $10-million in equity financing as the country’s largest Indigenous-owned financial institution responds to booming demand for new business loans.

The Lheidli T’enneh First Nation will acquire 8.64 per cent of FNBC, the bank announced Friday, with the transaction split between the nation itself and its business development arm: Tano T’enneh Enterprises. The announcement was made during a community celebration at the Lheidli T’enneh office in Prince George.

Earlier this month, FNBC sold $9-million worth of equity to five other Indigenous groups and communities, bringing the Saskatoon-based bank closer t