First City Monument Bank (FCMB) has extended credit totalling N1.343 trillion to over 98,000 SMEs across diverse sectors since 2018. This includes N3 billion in credit disbursed to over 50 firms promoting clean energy solutions.
In recognition of these exceptional contributions, the financial institution has been honoured by the Development Bank of Nigeria (DBN) at its 2023 Service Ambassadors Awards in Lagos.
The bank was honoured as the ‘Deposit Money Bank with the Highest Impact in the DBN Focus States’ and ‘Participating Financial Institution with the Highest Disbursement to Green Projects’.
These awards underscore FCMB’s commitment to impactful lending, actively driving economic growth and job creation across the country, a statement by the bank said.
Commenting on the awards, the Managing Director of FCMB, Yemisi Edun, said: “We are honoured to be recognised as the deposit money bank with the highest impact in the DBN-focus states and the participating financial institution with the highest disbursement to green projects. Our partnership with the DBN has empowered SMEs to scale up and contribute significantly to Nigeria’s economic development. These awards affirm our commitment to meeting the expectations of our customers and the broader business community.”
FCMB’s target is to train over one million SMEs through technical assistance worth €325,000 granted by Proparco, the private-sector arm of the French Development Agency, and another $275,000 from the African Development Bank (AfDB), FCMB said.
The facilities are expected to facilitate the successful onboarding and empowerment of SMEs, including women entrepreneurs, under its SheVentures proposition and those operating in high-impact sectors – agriculture, renewable energy and the digital sector.
