The SME friendly bank beat all other Nigerian and African banks to win national and continental honours.
It emerged as Best SME Bank in
Commenting on the awards, the Managing Director of FCMB, Mrs
Thanking the Asian Banker for the awards,
Remarkably, the Bank has taken the lead in digitisation by automating its lending process for SMEs through the FCMB Quickloans platform. Through this channel, the lender has disbursed over N100billion in loans to entrepreneurs. It processes over 25,000 digital loans, with disbursements hitting N9billion in a month in the third quarter of 2021.
In addition, the Bank provides market intelligence and technical assistance support to small businesses, access to intervention funds in partnership with Development Financial Institutions, as well as provision of credit facilities to mitigate the credit risk and collateral gaps experienced in lending to SMEs.
So far, the Bank has provided over N23 billion loan guarantee support to SMEs with inadequate collateral or those in the start-up stage.
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