First Bank of Nigeria Limited has been recognized as the Best SME Bank in Nigeria and Africa at the 2025 Asian Banker Awards, securing the title for the second consecutive year. This prestigious accolade highlights the bank’s dedication to supporting small and medium-sized enterprises (SMEs), a sector that forms the backbone of Nigeria and Africa’s economy.
The Asian Banker Global Excellence in Retail Finance Awards are renowned for their transparency and rigor, celebrating outstanding achievements in financial services, technology, risk management, and transaction finance. FirstBank’s recognition reaffirms its strategic focus on empowering SMEs through tailored financial solutions, business advisory services, and inclusive economic initiatives.
For over a century, FirstBank has played a pivotal role in Nigeria’s financial evolution, pioneering innovative banking solutions to drive economic growth. The bank’s SMEConnect platform, a digital hub providing SMEs with financial resources, networking opportunities, and business advisory services, has been a game-changer for thousands of entrepreneurs. Additionally, its customized loan products, flexible credit facilities, and entrepreneurship training programs equip businesses with the tools they need to thrive.
FirstBank has also demonstrated a strong commitment to supporting women-led and youth-driven enterprises. Its FirstGem initiative provides financial support for women entrepreneurs, while the Retail Temporary Overdraft (RTOD) product offers financial assistance tailored to SMEs. Through partnerships with organizations like the International Finance Corporation (IFC) and the Nigerian government, the bank has further strengthened its SME support initiatives.
The impact of FirstBank’s efforts extends beyond financial services, fostering job creation, innovation, and sustainable economic growth. SMEs account for over 90% of businesses in Nigeria and play a significant role in employment and GDP contribution. By offering robust financial solutions, FirstBank is enabling SMEs to scale their operations, compete globally, and contribute to Nigeria’s position as a hub for entrepreneurship.
Winning the Best SME Bank award is not only a recognition of FirstBank’s excellence but also a testament to Nigeria’s growing potential in the global business landscape. This achievement sets a new benchmark for banking in Africa and reinforces FirstBank’s role as a leading financial partner for SMEs across the continent.
