First Nations Bank of Canada is a Saskatoon, Sask.-based lender that provides credit and banking services to Indigenous communities and businesses. The bank has kicked off an equity increase of as much as $50 million to expand its lending capacity. In the first stage it raised $9 million from five Indigenous groups, including Whitefish Lake First Nation #128, Uujo Developments, Doig River First Nation, Athabasca Basin Development and Daanaa Jili Trust. CEO Bill Lomax, who took over in 2023 after eight years at Goldman Sachs, says the bank is seeing strong loan demand and expects to do substantial lending over the next one to two years. Under Lomax the bank has partnered to deliver additional credit via the Canada Infrastructure Bank and, in June, the Business Development Bank of Canada through two separate $100 million deals. Management is targeting an expansion that would allow the bank to lend roughly $250 million to $400 million more than it does today.

Total raised

$9M

Funding rounds

1

Latest round

Equity

Latest activity

Aug 2025