First Metropolis Monument Financial institution, one of many main suppliers of monetary companies in Nigeria, has continued to aggressively drive and help the nation’s small and medium-sized enterprise sector.

The financial institution, which was just lately voted the perfect SME financial institution in Africa, thereby consolidating its place because the dominant monetary establishment within the phase, has made extra funds obtainable to ladies entrepreneurs by its “SheVenture” initiative.

The SheVentures initiative presents elevated help to women-owned SMEs and start-ups by entry to finance, coaching and mentoring with the distinctive good thing about zero curiosity for an preliminary interval three months.

So far, over 15,000 women-owned SMEs have benefited, when it comes to funding and coaching, over the previous 18 months.

In recognition of its nice contributions to the expansion of the small and medium enterprise sector, FCMB was just lately voted the perfect SME financial institution in Africa on the Asian Banker Center East and Africa Regional Awards which occurred final 12 months, in November 2020. , one other affirmation of unmatched dedication and distinctive efficiency in offering distinctive companies, together with financing, capability constructing and different value-added helps, to small and medium enterprises.

The Asian Banker is an authoritative platform for strategic enterprise info for the monetary companies trade worldwide.

The annual award organized by the corporate is among the most complete, clear and revered within the trade, masking the entire matters and areas that make up the monetary companies system.

In response to the Asian banker, FCMB has turn out to be the perfect SME financial institution in Africa following “a sequence of on-line surveys throughout the area to gather suggestions from 1000’s of shoppers by market.

“Within the survey, we additionally requested prospects to charge how nicely their primary banks helped them through the disaster. Outcomes and rankings faithfully replicate the voice of shoppers. ”

The organizers additional mentioned: “FCMB has launched numerous digital initiatives within the SME phase, similar to digital lending merchandise quick loans  and its new cell banking platform.

“As well as, the Financial institution launched a platform, which was a primary of its sort, to assist women-owned companies develop, leveraging entry to finance applications, mentoring applications , in addition to coaching and networking alternatives.

“FCMB has additionally helped SMEs construct their capability, thereby enhancing their enterprise operations, connecting with their friends and entry to trusted service professionals.

“The Financial institution has a 25% market share within the SME sector and in 2019 had greater than 300,000 new accounts on this phase.

“We congratulate the FCMB for its unbelievable contributions geared toward guaranteeing the expansion and sustainable improvement of SMEs within the area.”

Talking whereas receiving the award, Government Director, Enterprise Growth, FCMB, Bukola Smith, mentioned the Financial institution’s emergence as primary within the extremely aggressive SME class speaks volumes about its journey to ‘now and its contribution to enterprise success, regardless of the continuing challenges posed by the COVID-19 pandemic.

Smith mentioned, “As a resilient, inclusive and responsive establishment, we’ve got continued to deploy options to show the challenges posed by COVID-19 into alternatives for our prospects by leveraging our strong know-how, our transformative engine. digital know-how and our extremely skilled group.

“Our SME banking choices have dramatically modified lives by the creation of jobs and wealth, amongst different advantages.

“It is as a result of we imagine the one approach to achieve success is when our purchasers are profitable.

“We’re very proud to be the Finest SME Financial institution in Africa, particularly after KPMG ranked us because the Finest SME Financial institution in Nigeria within the 2019 Nigeria Banking Buyer Expertise Survey report. .

“This newest award will undoubtedly encourage us to carry out higher.”

FCMB, because the main monetary powerhouse in Nigeria, has constructed a stable basis and dominated the SME phase by constantly providing numerous innovative options by its primary pillars of help.

These are entry to capital, capability constructing, advisory companies, networking alternatives and know-how.

FCMB’s SME Advisory Service offers market info and technical help to companies, entry to intervention funds in partnership with improvement finance establishments in addition to the availability of credit score danger sharing services. to mitigate credit score danger and collateral gaps in SME loans.

The Financial institution has additionally taken the lead in automating and digitizing its lending course of for SMEs through the FCMB Fast-loans platform.

Via this platform, the Financial institution grants greater than 5,000 digital loans to SMEs each month.

FCMB can also be realizing the potential of agriculture to rework the Nigerian economic system, generate jobs, revenue and diversification.

To this finish, the Financial institution has steadily elevated its help to SMEs throughout agricultural worth chains from enter producers, service suppliers, main producers, merchants, processors, producers and exporters as nicely. as distributors and merchants of agricultural merchandise.

FCMB is among the few banks with the best agro-industrial portfolio when it comes to 9 % contribution.

FCMB additionally just lately launched its Enterprise Zone, a web-based group the place SMEs can work together with one another and use the companies of varied enterprise {and professional} facilitators to make the most of numerous on-line studying applications.

The Financial institution has additionally been lively within the space of ​​renewable power house loans to SMEs as a part of a program developed by the World Financial institution, within the hope of lowering electrical energy shortages, notably in rural communities. and economically viable.

First Metropolis Monument Financial institution Restricted, with over 200 branches unfold throughout Nigeria, is a member of FCMB Group Plc.

The Group is among the main monetary companies establishments in Nigeria with main subsidiaries of their respective segments.

Having efficiently remodeled into a bunch led by retail banking and wealth administration, FCMB hopes to proceed to differentiate itself by innovation and the availability of remarkable companies consistent with its values ​​of Execution, Professionalism, Innovation. and Buyer Orientation (EPIC).

Vanguard Information Nigeria

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