First City Monument Bank (FCMB) has been recognized for its significant contributions to financial inclusion and sustainability in Nigeria, winning two key awards at the 2024 Development Bank of Nigeria (DBN) Annual Lecture Series and Awards. The bank received accolades for being the “Best Bank with the Highest Impact on MSMEs Accessing Credit for the First Time in Nigeria” and for making the “Highest Disbursement to Sustainability Projects.”
These awards reflect FCMB’s strategic commitment to supporting Micro, Small, and Medium Scale Enterprises (MSMEs) and its role in fostering sustainability. Between January and June 2024, the bank disbursed N180 billion in loans to over 800,000 MSMEs, helping them grow and remain resilient amidst economic challenges. This further aligns with the bank’s mission to drive inclusive and sustainable economic growth in Nigeria.
Yemisi Edun, Managing Director of FCMB, expressed her pride in the bank’s achievements, stating, “MSMEs are vital to economic development, and we are committed to providing them with the necessary financial and non-financial support to reach their full potential.”
FCMB’s initiatives for MSMEs, backed by over $280 million in funding secured from Development Financial Institutions (DFIs) in 2023, have focused on various critical sectors, including renewable energy. The bank’s Quick-Loans platform, which automates loan disbursement, has been instrumental in efficiently granting credit to thousands of entrepreneurs across Nigeria.
The DBN Annual Lecture Series and Awards highlight exceptional service delivery in the MSME sector, and FCMB’s continuous recognition underscores its leadership in empowering businesses and promoting sustainability.
