FCMB Wins Impactful Lending to MSMEs, Sustainability Awards
CHIGOZIE AMADI
First City Monument Bank (FCMB) has been recognised by winning two prestigious awards at the Development Bank of Nigeria (DBN) 2024 Annual Lecture Series and Awards in Lagos.
The bank was named the “Best Bank with the Highest Impact on MSMEs Accessing Credit for the First Time in Nigeria” and the “Highest Disbursement to Sustainability Projects.”
The bank in a statement noted that these awards highlight FCMB’s commitment to financial inclusion and sustainability in Nigeria. Between January and June 2024, FCMB disbursed loans worth N180 billion to over 800,000 Micro, Small, and Medium Scale Enterprises (MSMEs) across various sectors, significantly bolstering their growth and resilience.
Commenting on the feat, Managing Director of FCMB, Mrs. Yemisi Edun said: “As Nigeria’s MSMEs-friendly bank, we are honoured to win these awards and to continue leading the charge in supporting businesses across Nigeria. 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. Our efforts reflect our purpose of fostering inclusive and sustainable growth by creating a robust ecosystem that connects people, capital, and markets in Africa.”
In 2023, FCMB secured over $280 million in funding from Development Financial Institutions (DFIs) to support MSMEs, including those led by women and enterprises in critical economic sectors, aligning with sustainable development goals. The bank has also actively financed renewable energy projects, granting credit to customers in need of solar energy solutions.
