FCMB wins “Best SME Bank in Africa” Award

First City Monument Bank (FCMB), a foremost financial services provider in Nigeria, has been voted as the Best SME Bank in Africa, thereby consolidating its position as the dominant financial institution in the segment. The bank won the prestigious award at the Asian Banker Middle East and Africa Regional Awards held virtually on November 5, 2020.

The development is another confirmation of FCMB’s unequalled commitment and outstanding performance in offering exceptional services, including funding, capacity building and other value-added supports, to Small and Medium Scale Enterprises (SMEs).

The Asian Banker is an authoritative platform for strategic business information for the financial services industry worldwide. The annual Awards organised by the firm is one of the most comprehensive, transparent and respected in the industry covering the full spectrum of topics and areas that constitute the financial services system.

According to the Asian Banker, FCMB emerged as the Best SME Bank in Africa following, “series of online surveys across the region to gather feedback from thousands of customers per market. In the survey, we also asked customers to rate how well their main Banks have helped them during the crisis. The results and rankings are a true reflection of the voice of the customers”.

The organisers further stated that, “FCMB has introduced various digital initiatives into the SMEs segment, such as digital loan products (Quickloans) and its New Mobile banking platform. In addition, the bank launched a platform, which was a first of its kind, to help women owned businesses scale up, by leveraging access to financing schemes, mentorship programmes, as well as training and networking opportunities.

Commenting on the award, the Managing Director of FCMB, Mr. Adam Nuru, described it as another milestone and a clear demonstration that the various strategic initiatives and solutions offered by the Bank are yielding the desired results and appreciated in Nigeria and internationally.

Speaking while receiving the award, the Executive Director, Business Development, FCMB, Mrs. Bukola Smith, said the emergence of the Bank as the number one in the highly competitive SME category speaks volumes about its journey so far and its contribution to the success of businesses, despite the ongoing challenges posed by the COVID-19 pandemic.