First Bank of Nigeria (FBN) Limited has once again reinforced its position as a powerhouse in the banking industry, securing the prestigious titles of Best SME Bank in Nigeria and Best SME Bank in Africa at the 2025 Asian Banker Awards. This marks the second consecutive year the bank has clinched these highly coveted accolades.
The Asian Banker Global Excellence in Retail Finance Awards are globally recognized for their rigor, transparency, and prestige, celebrating outstanding achievements in financial services, technology, risk management, and transaction finance. FirstBank’s latest triumph underscores its unwavering commitment to empowering Small and Medium Enterprises (SMEs)—a sector that forms the backbone of both Nigeria’s and Africa’s economies.
Pioneering SME Growth and Innovation
For over a century, FirstBank has played a pivotal role in Nigeria’s financial evolution, pioneering innovative banking solutions and fostering economic growth. Its strategic focus on SME empowerment has propelled the bank ahead of competitors, offering tailored financial solutions that directly address the challenges faced by small businesses.
Among its standout initiatives is SMEConnect, a revolutionary digital hub that provides SMEs with access to essential financial resources, expert advisory services, and invaluable networking opportunities. This initiative has helped thousands of entrepreneurs scale their businesses and navigate market challenges effectively.
Additionally, the bank offers customized loans and flexible credit facilities, ensuring that SMEs at different growth stages—whether startups or expanding enterprises—have access to the capital they need to thrive.
A Holistic Approach to SME Empowerment
Beyond financial support, FirstBank is deeply invested in entrepreneurial training programs, equipping SMEs with essential skills in financial literacy, business management, and technology adoption. Strategic partnerships with organizations like the International Finance Corporation (IFC) and the Nigerian government have further strengthened these initiatives.
The bank has also been a strong advocate for women-led businesses and youth entrepreneurship, introducing specialized products like FirstGem, which provides tailored financial solutions for female entrepreneurs. Meanwhile, its Retail Temporary Overdraft (RTOD) product is designed to provide seamless access to working capital for SMEs.
Driving Economic Growth Across Africa
FirstBank’s strategic efforts have positioned it as the go-to financial partner for SMEs across Africa, reinforcing its role in job creation, innovation, and sustainable economic development. With SMEs accounting for over 90% of businesses in Nigeria, the bank’s initiatives are playing a crucial role in driving employment and boosting the nation’s Gross Domestic Product (GDP).
By facilitating better funding, business training, and access to digital tools, FirstBank is enabling more SMEs to scale beyond local markets and compete on the global stage.
A Milestone for African Banking Excellence
This landmark achievement not only cements FirstBank’s reputation as an industry leader but also highlights Nigeria’s potential as a hub for entrepreneurship and business expansion. The bank’s success at the Asian Banker Awards sets a new benchmark for excellence in SME banking across Africa.
For small business owners and aspiring entrepreneurs, FirstBank’s triumph is a beacon of hope, proving that with the right financial support, the possibilities for growth are limitless.
As FirstBank continues to push boundaries and innovate, its legacy of driving SME empowerment and economic prosperity across Africa is only set to grow stronger.
