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FCMB Wins “Best SME Bank in Africa” Award

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FCMB Wins "Best SME Bank in Africa" Award

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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