Source: Thisdaylive
First City Monument Bank (FCMB) has been acknowledged for its substantial contributions to financial inclusion and sustainability in Nigeria, securing two prestigious awards at the 2024 Development Bank of Nigeria (DBN) Annual Lecture Series and Awards. The bank was honored with the titles of “Best Bank with the Highest Impact on MSMEs Accessing Credit for the First Time in Nigeria” and for achieving the “Highest Disbursement to Sustainability Projects.”
These awards highlight FCMB’s strategic focus on supporting Micro, Small, and Medium Scale Enterprises (MSMEs) and its ongoing efforts in advancing sustainability. From January to June 2024, the bank disbursed N180 billion in loans to over 800,000 MSMEs, empowering them to grow and stay resilient in the face of economic challenges. This aligns with the bank’s mission to foster inclusive and sustainable economic growth in Nigeria.
Yemisi Edun, FCMB’s Managing Director, expressed her pride in the bank’s accomplishments, stating, “MSMEs are crucial to economic development, and we are dedicated to offering them both financial and non-financial support to help them achieve their full potential.”
FCMB’s MSME-focused initiatives, backed by more than $280 million in funding from Development Financial Institutions (DFIs) in 2023, have targeted key sectors, including renewable energy. The bank’s Quick-Loans platform, which automates the loan disbursement process, has been pivotal in providing swift credit access to thousands of entrepreneurs throughout Nigeria.
The DBN Annual Lecture Series and Awards celebrate excellence in MSME service delivery, and FCMB’s ongoing recognition highlights its leadership in empowering businesses and championing sustainability.
