FCMB Group secured $125 million from Development Finance Institutions (DFIs) and donor agencies in 2024 to expand funding for women-owned SMEs and the agricultural sector.
DFI funding usually provides long-term, low-cost capital that bolsters the bank’s balance sheet, allowing it to lend more to underserved businesses and households.

In 2024, the financial institution increased its agricultural lending by 56.8 per cent year-on-year, reaching N192.6 billion, and provided financial services to over 370,870 smallholder farmers, with 58 per cent being women involved in agriculture.

DFI funds often include partial credit guarantees or risk-sharing mechanisms, mitigating risks associated with lending to higher-risk borrowers and enhancing financial inclusion.
With a solid footing as a leading financial institution in Nigeria, FFCMB has a strong presence in the SME segment through its comprehensive support offerings: capital access, capacity building, advisory services, networking, and technology.

The bank’s agency banking network acquired over 799,700 customers, disbursing over N23 billion in microloans to 105,006 individuals and MSMEs, including N8 billion to smallholder farmers and petty traders, contributing to a 41 per cent revenue growth in its agency banking business.
According to a recent survey by the National Bureau of Statistics (NBS) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), SMEs in Nigeria constitute about 96 per cent of registered businesses, employing around 84 per cent of the labour force and contributing 48 per cent to the country’s GDP.

DFI funds usually feature longer tenors and lower interest rates compared to commercial funding, enabling banks to provide affordable, long-term loans for capital-intensive projects.
In 2024, FCMB’s deposits and loan disbursements grew by 39 per cent and 28 per cent, totalling N4.3 trillion and N2.4 trillion, respectively.

Alongside financial support, DFIs provide advisory assistance to enhance credit assessment and governance systems, leading to improved lending quality and volume.
The bank’s loan portfolio is well-diversified, with no single sector exceeding 15 per cent. The overall loan book grew by 28 per cent or N525.8 billion year-on-year. As of FY 2024, 66 per cent of the loan book is in foreign currency and 34 per cent in local currency.

FCMB continues to gain traction in SME banking, emphasising innovation and technology to drive growth. Increased loan disbursements and improved margins resulted in 14 per cent and 84 per cent year-on-year growth in net revenue and Profit Before Tax (PBT), respectively, with PBT for the segment standing at N11.4 billion.

In realisation that SMEs are the backbone of Nigeria’s economy, the bank established the FCMB SME Advisory Hub, a comprehensive support system for business growth. This service offers market intelligence, technical assistance, access to intervention funds, and credit enhancement facilities to address credit risks and collateral gaps faced by SMEs.
The bank is also shifting more resources to wholesale and SME banking, enabling more MSMEs to open accounts online. FCMB leads in digitisation by automating its lending process for SMEs through the FCMB Quickloans platform.

For female-owned SMEs, the bank offers a specialised programme called SheVentures, providing access to finance, training, and mentoring with the unique benefit of a zero-interest rate for an initial three months. Hundreds have benefited from zero-interest loans ranging from N500,000 to N5 million.
Additionally, FCMB has launched the FCMB Business Zone, an online community for SMEs to connect and leverage services from business professionals and enablers, including various e-learning programmes. The bank assists SMEs in utilising technology by offering access to fintech solutions that support their business growth.