First City Monument Bank (FCMB) has secured the prestigious title of Nigeria's Best SME Focused Bank for the year 2025. The Chartered Institute of Bankers of Nigeria (CIBN) bestowed this honour upon the bank, solidifying its leading role in financing the country's small and medium-sized enterprises.
A Recognition Built on Substantial Market Leadership
The award is not merely ceremonial; it is backed by hard data. FCMB commands a significant 24 per cent share of the entire banking industry's disbursements to SMEs, which totaled a massive N1.8 trillion in 2024. This market leadership position was a key factor in the award selection, which relied on official industry-wide lending data provided by the Central Bank of Nigeria (CBN).
The recognition was formally presented during the 60th Annual Bankers Dinner, a notable event held in Lagos that gathers key figures from Nigeria's financial sector.
Fueling the Engine of the Nigerian Economy
FCMB's strategy focuses on channeling funds into sectors that are critical to Nigeria's economic growth. An analysis of the bank's financing activities reveals a direct alignment with the nation's highest-performing industries, according to the Nigerian Gross Domestic Product report for the third quarter of 2024.
The bank's investments prominently support:
- Crop Production (26.51% of GDP)
- Trade (14.78% of GDP)
- Telecommunications (13.94% of GDP)
- Real Estate (5.43% of GDP)
- Food, Beverage & Tobacco (4.06% of GDP)
This targeted approach ensures that FCMB's capital is deployed where it can generate the most substantial economic impact and job creation.
Building on a Foundation of Strategic Partnerships
The award comes at a time when FCMB is actively strengthening its capacity to support SMEs further. Recently, the bank secured a substantial $50 million credit facility from the British International Investment (BII). This deal was signed at a ceremony in Lagos attended by top executives from both institutions, including FCMB's Managing Director, Yemisi Edun, and BII's Managing Director and Head of Africa, Chris Chijiutomi.
Other dignitaries present were the British Deputy High Commissioner in Lagos, Jonny Baxter; FCMB's Divisional Head of Treasury and International Banking, Gerald Ikem; and the Head of Nigeria for BII, Benson Adenuga. This facility is explicitly designed to drive growth and enhance economic inclusion for Micro, Small, and Medium-sized Enterprises (MSMEs) across Nigeria.
By combining this new influx of funds with its award-winning focus, FCMB is poised to deepen its support for the entrepreneurs and businesses that form the backbone of the Nigerian economy.
