Lheidli T’enneh First Nation and its business arm, Tano T’enneh Enterprises, have purchased a combined 8.64 per cent equity stake in the First Nations Bank of Canada, the nation and bank announced on Friday, Aug. 22.
The First Nation and Tano T’enneh each have a 4.32 per cent ownership share in the bank for a combined investment of $10 million.
The bank is the country’s only Indigenous-owned chartered bank.
CEO Bill Lomax joined Lheidli T’enneh chief and council at their Brunswick Street offices in Prince George for a press conference where they made the announcement.
“This investment is a powerful statement of confidence in the future of FNBC,” Lomax said in a media release. “We are so proud the Lheidli T’enneh First Nation will become a prominent shareholder in our coast-to-coast expansion.”
In the same release, Logan said she was proud that her community has become a shareholder in the bank.
"This investment reflects our commitment to building a strong economic future for our people and supporting an Indigenous-owned financial institution that understands the unique needs and opportunities of our communities. By investing in FNBC, we are not just securing excellent return for our nation — we are contributing to economic sovereignty for First Nations.”
An updated version of this story with more information from the press conference is forthcoming.
