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Wednesday,
November 11, 2020 / 10:50AM /FCMB / Header Image Credit: FCMB
First City
Monument Bank (FCMB), a foremost financial services provider in
Nigeria, has been voted as the Best SME Bank in Africa. The Bank won the prestigious
award at the Asian Banker Middle East and Africa Regional Awards held
virtually on November 5, 2020. The development is another confirmation of
FCMB's outstanding performance in offering exceptional services, including
funding, capacity building and other value-added supports, to Small and Medium
Scale Enterprises (SMEs).
The Asian Banker is an authoritative platform
for strategic business information for the financial services industry
worldwide. The annual Awards organised by the firm is one of the most
comprehensive, transparent and respected in the industry covering the full
spectrum of topics and areas that constitute the financial services system.
According to the Asian Banker, FCMB
emerged as the Best SME Bank in Africa following, "series of online
surveys across the region to gather feedback from thousands of customers per
market. In the survey, we also asked customers to rate how well their main
Banks have helped them during the crisis. The results and rankings are a true
reflection of the voice of the customers".
The organisers further stated
that, "FCMB has introduced various digital initiatives into the SMEs
segment, such as digital loan products (Quickloans) and its New Mobile banking
platform. In addition, the Bank launched a platform, which was a first of its
kind, to help women owned businesses scale up, by leveraging access to
financing schemes, mentorship programmes, as well as training and networking
opportunities. FCMB has equally helped SMEs to enhance capacity, thereby
improving their business operations, connect with peers and access to trusted
service professionals. The Bank has a 25% market share in the SME
business, and in 2019 had more than 300,000 new accounts in this segment. We
commend FCMB for its incredible contributions towards ensuring the growth
and sustainable development of SMEs within the region".
Commenting on the award, the Managing Director
of FCMB, Mr. Adam Nuru, described it as another milestone and a clear
demonstration that the various strategic initiatives and solutions offered by
the Bank are yielding the desired results and appreciated in Nigeria and
internationally.
According to him, "we are excited to have
been recognised by the Asian Banker for our market leading propositions and
support to SMEs, which continue to make real impact on businesses and the
economy in general. This award is another validation that we are on track in
our customer-centric approach to financial services delivery. We will continue
to expand the frontiers of our innovation and go the extra mile to deploy
offerings that consistently enhance customer experience. We thank the
Asian Banker and the respondents for considering us worthy as the Best SME Bank
in Africa. We dedicate this award to our customers who have made FCMB what
it is today".
Speaking while receiving the award, the
Executive Director, Business Development, FCMB, Mrs. Bukola Smith, stated that,
"as a resilient, inclusive and responsive institution, we have continued
to deploy solutions to transform the challenges posed by COVID-19 to
opportunities for our customers by leveraging on our robust technology, digital
transformation drive and highly professional team. Our SME Banking
offerings have significantly changed lives through job and wealth creation, among
other benefits. This is because, we believe that the only way we can succeed is
when our customers succeed. We are very proud to be the Best SME Bank in
Africa, particularly coming after KPMG rated us as the Best SME Bank in Nigeria
in the 2019 Nigeria Banking Industry Customer Experience Survey report. This
latest award will undoubtedly inspire us to perform better".
For more information about FCMB and its
propositions for SMEs, please visit www.fcmb.com/business-banking.
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