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FCMB recognised for SME development

First City Monument Bank (FCMB)has been recognised as the ‘Best SME Bank in Africa’ at the Asian Banker Middle East and Africa Regional Awards.

A statement issued by the bank on Thursday said the Asian Banker commended FCMB for its contributions towards ensuring the growth and sustainable development of Small and Medium-scale Enterprises within the region.

According to the firm, the bank has a 25 per cent market share in the SME business, and more than 300,000 new accounts in the segment in 2019.

It noted that FCMB had introduced various digital initiatives into the SME segment, such as digital loan products and its new mobile banking platform.

It added that the bank had also launched a platform to help women-owned businesses by leveraging access to financing schemes, mentorship programmes, training and networking opportunities.

“FCMB has equally helped SMEs to enhance capacity, thereby improving their business operations, connect with peers and access to trusted service professionals,” the organisers said.

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

He said the bank would continue to expand the frontiers of its innovation and go the extra mile to deploy offerings that would enhance customer experience.

Nuru said, “This award is another validation that we are on track in our customer-centric approach to financial services delivery.

“We thank the Asian Banker and the respondents for considering us worthy as the Best SME Bank in Africa. We dedicate this award to our customers who have made FCMB what it is today.”

Speaking while receiving the award, the Executive Director, Business Development, FCMB, Bukola Smith, said the award showed the bank’s contribution to the success of businesses, despite the ongoing challenges posed by the COVID-19 pandemic.

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