FirstBank, a number one {financial} establishment and supplier of economic inclusion companies in West Africa, pronounces the achievement of ₦1 trillion in cumulative prompt digital mortgage disbursements. This accomplishment additional consolidates the {Bank}’s status for innovation, management in {financial} inclusion, and dedication to buyer empowerment inside.
Since its inaugural digital mortgage in August 2019, FirstBank has developed an unconventional and strong digital lending ecosystem designed with Synthetic Intelligence and Machine Studying, to enhance entry to finance, particularly to the high-risk buyer section. The {Bank} created a multi- channel mortgage disbursement service that requires no collaterals, zero documentation and is void of human interactions. By means of its FirstAdvance, FirstCredit and AgentCredit merchandise, 1.5 million distinctive debtors loved prompt and safe entry to credit score. That is no matter whether or not they’re wage earners, non-salary earners, or micro enterprise homeowners. In addition they have the handy choices of accessing these loans by platforms similar to *894# (FirstBank’s USSD service), FirstMobile, LitApp and the FirstMonie Agent App.
Concerning this milestone, Chuma Ezirim, Group Government, e-Enterprise & Retail Merchandise at FirstBank, said: “This success underscores our ongoing dedication to innovation and a customer-focused method, that are central to FirstBank’s core values. Past reaching substantial figures, we stay devoted to fostering alternatives for {financial} independence throughout Nigeria particularly, and in Africa at giant.’’
He added, “We worth the belief our prospects place in us to assist their {financial} aspirations. Our efforts to advance digital lending will persist, particularly to the excluded and underserved buyer segments, whereas successfully managing dangers within the course of.”
FirstBank at present disburses about N1 Billion every day in digital loans, demonstrating its dedication to fostering an inclusive, technology-driven future for Nigerians. By constantly investing in superior applied sciences and creating customised {financial} options, the {Bank} seeks to enhance the {financial} well-being of people and companies throughout the nation.
About FirstBank
First Bank of Nigeria Restricted “FirstBank”, established in 1894, is the premier {bank} in West Africa, a number one {financial} inclusion companies supplier in Africa, and a digital banking large.
FirstBank’s worldwide footprints reduce throughout three continents ─ Africa, Europe and Asia, with FirstBank UK Restricted in London and Paris; FirstBank in The Democratic Republic of Congo, Ghana, The Gambia, Guinea and Sierra Leone; FBNBank in Senegal; and a FirstBank Consultant Workplace in Beijing, China. All of the subsidiary banks are absolutely registered by their respective Central Banks to offer full banking companies.
Moreover offering home banking companies, the subsidiaries additionally interact in worldwide cross-border transactions with FirstBank’s non-Nigerian subsidiaries, and the consultant places of work in Paris and China facilitate commerce flows from Asia and Europe into Nigeria and different African international locations.
For over 13 a long time, FirstBank has constructed an excellent status for stable relationships, good company governance, and a robust liquidity place, and has been on the forefront of selling digital fee within the nation with over 13 million playing cards issued to prospects (the primary {bank} to realize such a milestone in Nigeria). FirstBank has continued to make vital investments in know-how, innovation and transformation, and its cashless transaction drive has been steadily accentuated with just about over 25 million energetic FirstBank prospects signed up on digital channels together with the USSD Fast Banking service by the nationally famend *894# Banking code.
With over 43 million buyer accounts (together with digital wallets) unfold throughout Nigeria, UK and sub-Saharan Africa, the {Bank} gives a complete vary of retail and wholesale {financial} companies by greater than 820 enterprise places of work and over 280,000 agent places unfold throughout 772 out of the 774 Native Authorities Areas in Nigeria.
Along with banking options and companies, FirstBank gives pension fund custody companies in Nigeria by First Pension Custodian Nigeria Restricted and nominee and related companies by First Nominees Nigeria Restricted.
FirstBank’s dedication to Variety is proven in its insurance policies, partnerships and initiatives similar to its workers’ ratio of feminine to male (about 41%:59%; and 37% ladies in administration roles) in addition to the FirstBank Ladies Community, an initiative that seeks to deal with the gender hole and improve the participation of girls in any respect ranges throughout the organisation. As well as, the {Bank}’s membership of the UN Ladies is an affirmation of a deliberate coverage that’s per UN Ladies’s Ladies Empowerment’s Rules (WEPs) ─ Equal Alternative, Inclusion, and Nondiscrimination.
For six consecutive years (2011 – 2016), FirstBank was named “Most Invaluable {Bank} Model in Nigeria” by the globally famend The Banker Journal of the {Financial} Occasions Group and “Finest Retail {Bank} in Nigeria” eight occasions in a row, 2011 – 2018, by the Asian Banker Worldwide Excellence in Retail {Financial} Providers Awards.
Considerably, FirstBank’s International Credit score Ranking was A+ with a optimistic outlook whereas rankings by Fitch and Customary & Poor’s had been A (nga) and ngBBB+ respectively each with Secure outlooks as at September 2023. FirstBank maintained the identical stage of worldwide credit score rankings because the sovereign; a milestone that was achieved in 2022 for the primary time since 2015.
In 2024, FirstBank obtained notable worldwide awards and accolades. A few of these embody Nigeria’s Finest {Bank} for ESG 2024 and Nigeria’s Finest {Bank} for Corporates 2024 each awarded by Euromoney Awards for Excellence; Finest SME {Bank} in Africa and in Nigeria by The Asian Banker International Awards; Finest Personal {Bank} in Nigeria and Finest Personal {Bank} for Sustainable Investing in Africa by International Finance Awards; Finest Company {Bank} in Nigeria 2024, Finest CSR {Bank} in Nigeria 2024, Finest Retail {Bank} in Nigeria 2024, Finest SME {Bank} in Nigeria 2024 and Finest Personal {Bank} in Nigeria 2024 all awarded by the International Banking and Finance Awards.
FirstBank has continued to achieve vast acclaim on the worldwide stage with a number of worldwide awards and recognitions obtained up to now in 2025 which incorporates Finest SME {Bank} in Nigeria 2025 and Finest SME {Bank} in Africa 2025 by The Asian Banker; Finest Personal {Bank} in Nigeria 2025 and Finest Personal {Bank} for Sustainable Investing in Africa 2025 by International Finance Awards; SME Financier of the Yr in Nigeria 2025 by The Digital Banker International SME Banking Innovation Awards; Finest Retail {Bank} in Nigeria 2025 and Finest {Bank} for Empowering Ladies Entrepreneurs in Nigeria 2025 all by The Annual International Economics Awards.
Our imaginative and prescient is “To be Africa’s {Bank} of first alternative” and our mission is “To stay true to our title by offering the very best {financial} companies attainable”. This dedication is anchored on our core values of EPIC – Entrepreneurship, Professionalism, Innovation and Buyer-Centricity. Our strategic ambition is “To ship accelerated development in profitability by customer-led innovation and disciplined execution.”
Olayinka Ijabiyi
Ag. Group Head, Advertising and marketing & Company Communications
First Bank of Nigeria Restricted
