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FirstBank’s Retail Temporary Overdraft product has been so impactful to the businesses of both male and female entrepreneurs. This contributed to the bank’s achievements, where it was honored with two highly prestigious awards at the Asian Banker Excellence in Retail Financial Services International Awards 2024. The awards, presented by The Asian Banker, crowned FirstBank as both the Best SME Bank in Nigeria and the Best SME Bank in Africa, a testament to the institution’s commitment to empowering Small and Medium Enterprises (SMEs) and driving retail financial excellence across the continent.
The Asian Banker awards are widely recognized as one of the most competitive and rigorous in the global banking industry. The evaluation process is stringent, focusing on various key performance indicators, including service delivery, customer experience, financial performance, and innovation in retail banking. With an extensive panel of experts examining each institution’s track record, FirstBank’s recognition as the leading SME Bank in both Nigeria and Africa signals its outstanding leadership and vision in the African financial industry.
As the backbone of the Nigerian and African economies, SMEs play a crucial role in driving employment, innovation, and economic growth. However, they often face significant hurdles, especially in securing adequate financial support. This is where FirstBank steps in, not just as a traditional banking partner, but as an enabler and advocate for the sector.
With its range of SME-focused financial products, from deposit products, loan packages to tailored advisory services, FirstBank has distinguished itself as a leader in providing SMEs the resources they need to thrive.
The bank’s FirstSME initiative is designed to support businesses in accessing capital, managing cash flow, and navigating the complexities of business development in a competitive market. This commitment is what earned FirstBank top recognition at the Asian Banker awards.