Development Bank recognizes FCMB for supporting SMEs and green projects

Development Bank recognizes FCMB for supporting SMEs and green projects

First City Monument Bank (FCMB), a leading supporter of small and medium enterprises (SMEs) in Nigeria, has extended credit totaling N1.343 trillion to over 98,000 SMEs across diverse sectors since 2018. This includes N3 billion in credit disbursed to more than 50 companies promoting clean energy solutions.

In recognition of these exceptional contributions, FCMB was honored by the Development Bank of Nigeria (DBN) at its 2023 Service Ambassador Awards in Lagos. The bank has received accolades such as “Deposit Bank with the Greatest Impact in DBN Focus States” and “Participating Financial Institution with the Largest Disbursement for Green Projects”. These awards underscore FCMB's commitment to impactful lending, actively driving economic growth and job creation across Nigeria.

Commenting on the awards, Ms. Yemisi Edun, Director General of FCMB, said:

“We are honored to be recognized as the Cash Deposit Bank with the Highest Impact in the DBN Focus States and the Participating Financial Institution with the Highest Disbursement for Green Projects. Our partnership with the Development Bank of Nigeria empowers SMEs to grow and contribute significantly to the economic development of Nigeria. These awards affirm our commitment to meeting the expectations of our customers and the business community at large.”

FCMB's goal is to train more than 1 million SMEs through technical assistance worth €325,000 provided by Proparco (the private sector arm of the French Development Agency) and another $275,000 from the African Development Bank (AfDB). These will facilitate the successful integration and capacity building of SMEs, including women entrepreneurs, under its SheVentures proposition and those operating in high-impact sectors (agriculture, renewable energy, digital).

First City Monument Bank is a member of FCMB Group Plc. FCMB is committed to promoting inclusive and sustainable growth in its communities, building a supportive ecosystem rooted in Africa and connecting people, capital and markets.


Leave a Reply

Your email address will not be published. Required fields are marked *