TORONTO — First Nations Bank of Canada has announced a $15 million investment by the Mississaugas of the Credit First Nation.
The investment will see the Nation become one of the bank’s largest shareholders, with about a 10 per cent ownership stake.
The Indigenous-owned chartered bank, the only one of its kind in Canada, says the investment marks the completion of a $50-million capital raise.
The lender provides commercial and personal banking services including loans, mortgages and investments to both Indigenous and non-Indigenous clients.
First Nations Bank of Canada said the investment will expand its lending capacity and help it pursue opportunities in Indigenous business, infrastructure and economic development.
Bill Lomax, president and CEO of the bank, made the announcement while speaking at the Canadian Club in Toronto on Wednesday.
“With the addition of Mississaugas of the Credit First Nation as a major shareholder, that founding vision is stronger than ever,” Lomax said in a news release.
“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.”
Following the investment, the bank will be owned by 117 First Nations and Indigenous communities.
“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,” Chief Margaret Sault of Mississaugas of the Credit First Nation, said in the release.
“Meaningful participation in the Canadian economy includes having ownership in the institutions that help drive and shape its future.”
First Nations Bank of Canada operates 22 branches and service centres, while managing more than $1.6 billion in assets. Its trust subsidiary, FNB Trust, has $5.57 billion in assets under administration.
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Daniel Johnson, The Canadian Press
This report by The Canadian Press was first published Nov. 4, 2026.
