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FCMB Group Joins 180 Other Financial Institutions to Promote SME Finance

FCMB Group Joins 180 Other Financial Institutions to Promote SME Finance

Washington, D.C., March 12th, 2020FCMB Group, First City Monument Bank Limited, became the newest member of the SME Finance Forum, a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs. 

“40 percent of small and medium businesses worldwide struggle to get access to the credit and capital that they need to grow their enterprises. We are delighted to welcome FCMB Group to our network of more than 180 members who are working to eliminate the finance gap for SMEs,” said Matthew Gamser, CEO of the Forum. 

FCMB Group is a bank-led financial services group, headquartered in Lagos, Nigeria, with operating companies divided along with three business groups. First City Monument Bank Limited, the wholly-owned flagship company of FCMB Group Plc, is a top-10 lender in Nigeria and has over 4.9 million customers and 205 branches in Nigeria and a banking subsidiary in the United Kingdom through FCMB Bank (UK) Limited (which is authorized by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA in the United Kingdom). “We are thrilled to join the SME Finance Forum to share our expertise on small business lending as well as to learn from fellow members of the Forum,“ said Mrs. Bukola Smith, Executive Director of FCMB Group.

To see all SME Finance Forum members, please visit: https://www.smefinanceforum.org/members/member-list

About SME Finance Forum
The SME Finance Forum was established by the G20 Global Partnership for Financial Inclusion (GPFI) in 2012 as a knowledge center for data, research and best practice in promoting SME finance. As an implementing partner for the GPFI, the International Finance Corporation (IFC) was tasked with managing the initiative. 

About FCMB Group
With over 2000 employees, FCMB Group is a bank-led financial services group, headquartered in Lagos, Nigeria, with operating companies divided along three business groups – Commercial and Retail Banking (First City Monument Bank Limited, Credit Direct Limited, FCMB (UK) Limited and FCMB Microfinance Bank Limited); Investment Banking (FCMB Capital Markets Limited and CSL Stockbrokers Limited); and Asset & Wealth Management (FCMB Pensions Limited, First City Asset Management Limited, and CSL Trustees Limited). Listed on the Nigerian Stock Exchange (NSE) with the ticker symbol ‘FCMB’, FCMB Group Plc has 19,802,710,781 ordinary shares held by about 517,186 shareholders. First City Monument Bank Limited, the wholly-owned flagship company of FCMB Group Plc, is a top-10 lender in Nigeria and has over 4.9 million customers and 205 branches in Nigeria and a banking subsidiary in the United Kingdom through FCMB Bank (UK) Limited (which is authorized by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA in the United Kingdom.

Media Contact
Carina Carrasco
ccarrasco@worldbank.org