FCMB shines as Nigeria’s best SME-focused bank

Divisional Head, Treasury and International Banking, First City Monument Bank (FCMB), Gerald Ikem (left); Managing Director and Head of Africa, British International Investment (BII), Chris Chijiutomi; Managing Director/Chief Executive Officer, FCMB, Yemisi Edun; British Deputy High Commissioner in Lagos, Jonny Baxter and Head of Nigeria, BII, Benson Adenuga, at the signing of a $50 million credit facility provided by BII to FCMB to drive growth and economic inclusion for Micro, Small, and Medium-sized Enterprises (MSMEs) in Nigeria held in Lagos.

First City Monument Bank (FCMB) has been mentioned as Nigeria’s Best SME Focused Bank for 2025 by the Chartered Institute of Bankers of Nigeria (CIBN).

This recognition comes as FCMB holds a leading 24 per cent share of the banking industry’s N1.8 trillion total SME disbursement for 2024.

The award was presented at the 60th Annual Bankers Dinner in Lagos, highlighting FCMB’s role in supporting small and medium-sized businesses.

FCMB’s financing targets the true engines of the Nigerian economy. According to the Nigerian gross domestic product for Q3 2024, the investments align with the nation’s highest-performing sectors, including crop production (26.51 per cent), trade (14.78 per cent) and telecommunications (13.94 per cent), alongside real Estate (5.43 per cent) and food, beverage and tobacco (4.06 per cent).

The award selection was based on industry-wide lending data provided by the Central Bank of Nigeria (CBN), which monitors financial sector contributions to the enterprise ecosystem.