First City Monument Bank grabbed the best SME-focused bank trophy from the Chartered Institute of Bankers of Nigeria after controlling 24 percent of the industry's 1.8 trillion naira small business loans last year. Managing director Yemisi Edun said the bank wants to keep hooking up entrepreneurs with capital and tech tools since they basically run the economy. The financing hits sectors like crop production, trade, and telecom that make up the biggest chunks of GDP.
The Chartered Institute handed out the award at their annual dinner in Lagos, and they based it on Central Bank data tracking how much different banks actually lend to small enterprises. FCMB also runs training programs and advisory services to help business owners figure out growth strategies. One of their staff members, named Tooritsemoshe Ojei, snagged a next-generation leadership award at the same event.
The Chartered Institute handed out the award at their annual dinner in Lagos, and they based it on Central Bank data tracking how much different banks actually lend to small enterprises. FCMB also runs training programs and advisory services to help business owners figure out growth strategies. One of their staff members, named Tooritsemoshe Ojei, snagged a next-generation leadership award at the same event.
