FCMB Becomes Best SME Bank in Africa Continent

First City Monument Bank (FCMB) has emerged as the Best SME Bank in Africa at the Asian Banker Middle East and Africa Regional Awards held on August 27, 2021.

FCMB Becomes Best SME Bank in Africa

The bank said in a statement on Sunday that it had won the ‘Best SME Bank in Africa’ award for the second time due to the digitisation of its lending process to SMEs with its FCMB Quickloans platform

Commenting on the awards, the Managing Director of FCMB, Mrs Yemisi Edun, said, “We are excited to win two awards this year, especially the Best SME Bank in Africa, for the second year.

This shows that we are meeting the specific needs of customers in this segment and are on a growth trajectory. The awards will inspire us to further expand the frontiers of our innovation and go the extra mile to provide solutions that consistently enhance customer experience.”

Narrating the rationale, the bank said the platform had disbursed over N100bn in loans to entrepreneurs and processed over 25,000 digital loans, hitting N9bn in a month in the third quarter of 2021.

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Thanking the Asian Banker for the awards, Mrs Edun dedicated these year’s awards  to the bank’s SMEs’ customers. She added that First City Monument Bank would continue to offer exceptional services, including funding and capacity building to small businesses.

Remarkably, the bank has taken the lead in digitisation by automating its lending process for SMEs through the FCMB Quickloans platform.