First Nations Bank of Canada Completes $50 Million Capital Raise with $15 Million Investment from Mississaugas of the Credit First Nation
November 4, 2026
TORONTO, ON / SASKATOON, SK – First Nations Bank of Canada (FNBC), Canada’s only
Indigenous-owned chartered bank, today announced a $15 million investment by
Mississaugas of the Credit First Nation (MCFN), establishing the Nation as one of the
Bank’s largest shareholders with an ownership position of approximately 10%.
The investment completes FNBC’s $50 million capital raise, providing additional capital to
support the Bank’s continued growth, expand its lending capacity and pursue opportunities
in Indigenous business, community infrastructure and economic development.
With MCFN’s investment, FNBC is now owned by 117 First Nations and Indigenous
communities across Canada, demonstrating a model in which Indigenous communities
participate not only as clients of financial institutions, but as owners.
For MCFN, the investment advances the Nation’s long-term economic development and
Nation-building objectives while creating an opportunity to participate directly in the
growth of a national Indigenous financial institution.
“This investment represents an important step forward in our Nation’s commitment to
building a strong and sustainable economic future for our people,” said Chief Margaret
Sault of Mississaugas of the Credit First Nation. “By becoming a major shareholder in First
Nations Bank of Canada, we are investing in an opportunity to build long-term wealth for
our community with a partner who understands our needs and aspirations. Meaningful
participation in the Canadian economy includes having ownership in the institutions that
help drive and shape its future. We see this investment as an opportunity to create lasting
benefits for future generations.”
Founded in 1996, FNBC was established to create an Indigenous-owned financial
institution focused on serving Indigenous communities, businesses and individuals.
“For 30 years, First Nations Bank of Canada has been focused on building a strong,
successful financial institution dedicated to serving Indigenous communities,” said
Bill Lomax, President and Chief Executive Officer of FNBC. “With the addition of
Mississaugas of the Credit First Nation as a major shareholder, that founding vision is
stronger than ever. Today, we are building a growing national bank, supported by First
Nations and Indigenous shareholders from across the country, and well positioned to
pursue the significant opportunities ahead.”
The investment and completion of the capital raise were announced today at a Canadian
Club Toronto luncheon featuring a fireside discussion moderated by Carolyn Rogers, Senior
Deputy Governor of the Bank of Canada. The discussion brought together Chief Margaret
Sault and Councillor Larry Sault of MCFN alongside FNBC President and CEO Bill Lomax to
explore the significance of Indigenous ownership in Canada’s financial sector, the Bank’s
continued growth and opportunities for First Nations to participate more fully in the
Canadian economy.
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About First Nations Bank of Canada
Founded in 1996, First Nations Bank of Canada (FNBC) is Canada’s only Indigenous-owned
chartered bank. Owned by 117 First Nations and Indigenous communities across Canada,
FNBC provides personal and commercial banking services to Indigenous and non-
Indigenous clients, with a principal focus on serving Indigenous communities, businesses
and individuals.
FNBC offers a full range of personal and commercial banking services, including loans,
mortgages and investments, as well as trust services through its wholly owned subsidiary,
FNB Trust.
The Bank operates 22 branches and service centres across six provinces and three
territories and manages more than $1.625 billion in assets. FNB Trust has approximately
$5.57 billion in assets under administration.
About Mississaugas of the Credit First Nation
Mississaugas of the Credit First Nation (MCFN) is a vibrant Anishinaabe (Ojibwe) First
Nation and the sole and rightful Treaty holder in the Greater Toronto and Golden Horseshoe
Region of Ontario, Canada. MCFN has a long history of partnership with all who live and
work on these lands, always operating with integrity and generously sharing wisdom and
knowledge. Approximately 25% of Canada’s GDP is generated on MCFN Treaty Lands,
which are also home to 11 million people.
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For more information, please contact:
Rosemary Thompson
Communications Advisor
First Nations Bank of Canada
(613) 240-6739
rosemary@artfulstrategies.ca