First City Monument Bank (FCMB) Recognized by Development Bank for SME Support and Green Projects

First City Monument Bank (FCMB) Recognized by Development Bank for SME Support and Green Projects

The Development Bank of Nigeria (DBN) has acknowledged First City Monument Bank (FCMB) for its outstanding contributions to small and medium-sized enterprises (SMEs). The accolades were presented at the 2023 Service Ambassadors Awards in Lagos, where FCMB was recognized as the “Deposit Money Bank with the Highest Impact in the DBN Focus States” and the “Participating Financial Institution with the Highest Disbursement to Green Projects.”

These awards celebrate FCMB’s dedication to impactful lending, actively fostering economic growth, and promoting job creation throughout Nigeria. FCMB, a prominent supporter of SMEs in the country, has provided credit exceeding N1.343 trillion to over 98,000 SMEs across various sectors since 2018. This includes disbursing N3 billion in credit to more than 50 firms dedicated to advancing clean energy solutions.

Read Also: The Development Bank Makes Plans To Secure N23bn From Domestic Investors

Mrs. Yemisi Edun, the Managing Director of FCMB, expressed gratitude for the recognition, stating that their partnership with the Development Bank of Nigeria empowers SMEs to scale up and contribute significantly to Nigeria’s economic development. These awards affirm their commitment to meeting the expectations of their customers and the broader business community.

Furthermore, FCMB outlined its ambitious target to train over 1 million SMEs through Technical Assistance provided by Proparco and the African Development Bank. This support aims to facilitate the successful onboarding and empowerment of SMEs, including women entrepreneurs, under the SheVentures proposition. FCMB is particularly focused on sectors with high impact, such as agriculture, renewable energy, and digital initiatives. The bank’s commitment to sustainable development aligns with its broader vision of contributing to Nigeria’s economic growth and prosperity.

Read Also: Sterling Bank to Allocate N1bn Fund for Agricultural Innovators


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