First Bank Crowned Best SME Bank in Nigeria and Africa for Second Consecutive Year at 2025 Asian Banker Awards

First Bank of Nigeria Limited, the nation’s oldest and most esteemed financial institution, has once again reinforced its position as a trailblazer in the banking sector through a legacy of excellence and innovation. For the second consecutive year, the Bank has been honored as the Best SME Bank in Nigeria and the Best SME Bank in Africa at the prestigious 2025 Asian Banker Awards. Known for their rigorous evaluation process, global recognition, and transparency, these awards celebrate outstanding achievements in financial services, technology, risk management, and transaction finance.

These accolades highlight FirstBank’s steadfast dedication to supporting Small and Medium Enterprises (SMEs), a critical sector that drives economic growth in Nigeria and across Africa. For over a century, FirstBank has played a pivotal role in shaping the nation’s financial landscape, introducing groundbreaking banking solutions and fostering sustainable development.

The awards reflect the success of FirstBank’s strategic initiatives aimed at empowering SMEs through tailored programs and creating an inclusive ecosystem where businesses can flourish and compete globally. Standing out among its peers, FirstBank has transformed the SME banking landscape in its operational regions through innovative approaches and impactful interventions.

Customized Financial Solutions: The Bank offers a range of tailored financial products, from microloans for startups to large-scale funding for businesses. These flexible credit facilities ensure SMEs have access to the capital needed to grow and thrive.

SMEConnect Platform: This digital hub provides SMEs with access to financial resources, business advisory services, and networking opportunities. It has been instrumental in helping entrepreneurs overcome challenges and scale their operations effectively.

Entrepreneurship Training Programs: FirstBank has invested in capacity-building initiatives, equipping SMEs with skills in financial literacy, business management, and technology adoption. Collaborations with organizations like the International Finance Corporation (IFC) and the Nigerian government have further amplified these efforts.

Support for Women and Youth Entrepreneurs: Recognizing the vital role of women in economic development, FirstBank launched FirstGem, a dedicated product offering financial support to women-led businesses. Additionally, the Retail Temporary Overdraft (RTOD) product provides tailored financial assistance to SMEs, further solidifying the Bank’s commitment to inclusivity.

FirstBank’s recognition as the Best SME Bank in Nigeria is not just a testament to its efforts but also a win for the Nigerian economy. SMEs account for over 90% of businesses in the country and significantly contribute to employment and GDP. By providing robust financial solutions and business support, FirstBank is driving job creation, innovation, and sustainable economic growth. With improved access to funding, training, and technology, SMEs are better positioned to expand beyond local markets and compete internationally. 

This achievement also underscores Nigeria’s potential as a hub for entrepreneurship and business development.

The Bank’s success is expected to set a new standard for banking excellence in Africa, inspiring other financial institutions to enhance their SME-focused initiatives. This will likely lead to a more dynamic and competitive business environment across the continent.

As FirstBank continues to champion SME growth, it reaffirms its legacy as a trusted financial partner, unwavering in its commitment to supporting businesses. This recognition not only celebrates past achievements but also serves as a call to further innovate and expand its impact on African enterprises.

For small business owners, aspiring entrepreneurs, and the Nigerian economy, FirstBank’s success story is a source of inspiration, demonstrating that with the right support, the potential for growth is limitless. 

For Africa, this milestone at the 2025 Asian Banker Awards marks a significant moment in banking history, showcasing FirstBank’s dedication to empowering SMEs, driving digital transformation, and fostering economic prosperity across the continent. As the Bank continues to innovate and expand, the future for SMEs in Nigeria and Africa looks increasingly promising.