Through a legacy of excellence and Innovation, FirstBank of Nigeria Limited, the country’s oldest and most distinguished financial institution, has once again solidified its reputation as a leader in the banking industry. The Bank was recently crowned the Best SME Bank in Nigeria and the Best SME Bank in Africa at the 2025 Asian Bankers Awards for the second year running.
The Asian Banker Global Excellence in Retail Finance Awards are renowned for their rigour, prestige and transparency, celebrating excellence across financial services, technology, risk management and transaction finance.
These prestigious recognitions reaffirm FirstBank’s unwavering commitment to Small and Medium Enterprises (SMEs), a sector that serves as the backbone of Nigeria’s and Africa’s economy. For over a century, First Bank of Nigeria Limited has been instrumental in the nation’s financial evolution, pioneering innovative banking solutions and fostering economic growth.
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The awards underscore the efficacy of its strategic focus on empowering SMEs through tailored support programs and an inclusive economic environment where small/medium businesses can thrive and also grow to compete globally. Winning these distinguished awards is no small feat. FirstBank stood out among its competitors across the continent due to several of the Bank’s key initiatives which have effectively transformed the SME banking landscape in all the countries where the bank operates.
Some of the Bank’s Tailored Financial Solutions include customised loans and flexible credit facilities to cater to SMEs at various growth stages. From microloans for startups to large-scale funding for expanding businesses, FirstBank has ensured that small businesses have access to the capital they need to thrive.
The bank’s SMEConnect platform, a digital hub that provides SMEs with access to financial resources, business advisory services, and networking opportunities, has been a game-changer. This initiative has helped thousands of entrepreneurs navigate challenges and scale their operations effectively.
Beyond financial support, FirstBank has invested in entrepreneurship training programs to equip SMEs with knowledge in financial literacy, business management, and technology adoption. Partnerships with organisations like the International Finance Corporation (IFC) and the Nigerian government have further strengthened these initiatives.
Women-Led and Youth Entrepreneurship Support is another tool which the Bank has deployed to its benefit. By recognising the role of women in economic development, the Bank has a dedicated product – FirstGem, which provides financial support to women entrepreneurs. In addition, the Retail Temporary Overdraft (RTOD) product, tailored to SMEs aims to provide financial support for their businesses. These strategic efforts have set FirstBank apart, positioning it as the ‘go-to’ financial partner for SMEs across Africa.
The recognition of FirstBank as the Best SME Bank in Nigeria is not just a win for the Bank but also for the entire Nigerian economy. SMEs account for over 90% of businesses in Nigeria and contribute significantly to employment and GDP. By providing robust financial solutions and business support, FirstBank is fostering job creation, innovation, and sustainable economic growth. With access to better funding, training, and technology, more SMEs can scale their operations beyond local markets and compete on the global stage. This award also highlights Nigeria’s potential as a hub for entrepreneurship and business expansion.
FirstBank’s achievement is expected to set a new benchmark for banking excellence in Africa. Other financial institutions will likely follow suit, improving their SME-focused initiatives, leading to a more vibrant and competitive business environment.
FirstBank will continue to champion SME growth, affirm its legacy as a trusted financial partner whose commitment remains unshaken. This award serves as both recognition of past efforts and a call to push boundaries further in supporting African businesses.
For small business owners, aspiring entrepreneurs, and the Nigerian economy, FirstBank’s success story is a beacon of hope, proving that with the right financial backing, the possibilities are limitless for the average businesses.
For the African continent, First Bank of Nigeria Limited’s win at the Asian Banker Awards for Excellence in Retail Finance Global Award 2025 marks a significant milestone in African banking history. It showcases the Bank’s relentless commitment to empowering SMEs, driving digital transformation, and fostering economic prosperity across the continent. As the Bank continues to innovate and expand its reach, the future for SMEs in Nigeria and Africa looks brighter.
EersteBank, een van de grootste commerciële banken in Nigeria, heeft onlangs zijn dominantie in het MKB-bankieren in zowel Nigeria als heel Afrika bevestigd door de prestigieuze Aziatische Bankier Awards te winnen. De bank werd erkend voor zijn uitstekende dienstverlening aan het midden- en kleinbedrijf (MKB) en zijn bijdrage aan de groei van de sector in de regio.
Het MKB speelt een cruciale rol in de economische ontwikkeling van Nigeria en Afrika als geheel. Deze bedrijven vormen de ruggengraat van de economie en dragen bij aan werkgelegenheid, innovatie en economische groei. Het is daarom essentieel dat zij toegang hebben tot financiële diensten en ondersteuning om te kunnen groeien en bloeien.
EersteBank heeft zich gepositioneerd als een toonaangevende speler in het MKB-bankieren door een breed scala aan producten en diensten aan te bieden die specifiek zijn afgestemd op de behoeften van kleine en middelgrote bedrijven. Dit omvat onder meer leningen, zakelijke rekeningen, betalingsdiensten, cash management oplossingen en adviesdiensten.
De bank heeft geïnvesteerd in technologie en digitale innovatie om het MKB te ondersteunen bij hun financiële behoeften. Door middel van online bankieren, mobiele apps en andere digitale kanalen kunnen ondernemers gemakkelijk toegang krijgen tot hun rekeningen, transacties uitvoeren en financiële informatie bekijken.
De erkenning van EersteBank door de Aziatische Bankier Awards is een bevestiging van de inzet van de bank voor het ondersteunen van het MKB en het stimuleren van economische groei in Nigeria en Afrika. Het is een teken van waardering voor de inspanningen van de bank om innovatieve oplossingen te bieden en waarde toe te voegen aan haar klanten.
Als EersteBank haar dominantie in het MKB-bankieren wil behouden, zal zij moeten blijven investeren in technologie, klantenservice en productontwikkeling. Door zich te blijven richten op de behoeften van het MKB en hen te voorzien van hoogwaardige financiële diensten, zal de bank haar positie als marktleider kunnen handhaven en bijdragen aan de groei van de economie in Nigeria en Afrika.
