FirstBank Emerges Best SME Bank In Africa, Nigeria

FirstBank has bagged two awards: Best SME Bank in Africa and Best SME Bank in Nigeria at the highly converted Asian Banker Global Excellence Retail Awards 2024.

The Excellence in Retail Finance Awards Programme, which includes the Global Excellence in Retail Finance Awards and The Annual Digital Bank Awards, is one of the most established awards of its kind, recognising exceptional innovation, leadership, management, and performance in the financial sector.
According to The Asian Banker’s Strategic Business Intelligence for the Financial Services Community

“FirstBank demonstrated exceptional performance, notably in its SME sector, by achieving more than 100 per cent revenue growth while maintaining a reduced cost-to-income ratio of 16.5 per cent. Small and medium-sized enterprises contributed 26 per cent of overall bank revenue. Furthermore, the institution’s SME customer base grew by seven per cent, reaching a total of more than one million. For its significant growth in the SME business, the award for Best SME Bank in Nigeria and in Africa goes to FirstBank”.

Expressing her delight on the recognition, the Group Head, Marketing & Corporate Communications, Ms. Folake Ani-Mumuney said: “We thank the Asian Banker Awards for the recognition and dedicate these awards to our esteemed SME customers that have progressively impacted the socio-economic growth of not just Nigeria but also the African continent given their critical role as the engine of any economy.

“For 130 years, FirstBank has continued to enable the giants in our customers including our SMEs as well as other stakeholders, and we remain committed to delivering the ultimate ‘gold standard’ of value and excellence.” she said.