FIRSTBANK MARKS SIGNIFICANT MILESTONE: ₦1 TRILLION IN INSTANT DIGITAL LOAN DISBURSEMENTS

FirstBank, a number one monetary establishment and supplier of monetary inclusion providers in West Africa, broadcasts the achievement of ₦1 trillion in cumulative instantaneous digital mortgage disbursements. This accomplishment additional consolidates the Financial institution’s fame for innovation, management in monetary inclusion, and dedication to buyer empowerment inside.

Since its inaugural digital mortgage in August 2019, FirstBank has developed an unconventional and sturdy digital lending ecosystem designed with Synthetic Intelligence and Machine Studying, to enhance entry to finance, particularly to the high-risk buyer section. The Financial institution created a multi- channel mortgage disbursement service that requires no collaterals, zero documentation and is void of human interactions. By its FirstAdvance, FirstCredit and AgentCredit merchandise, 1.5 million distinctive debtors loved instantaneous and safe entry to credit score. That is no matter whether or not they’re wage earners, non-salary earners, or micro enterprise house owners. Additionally they have the handy choices of accessing these loans by way of platforms equivalent to *894# (FirstBank’s USSD service), FirstMobile, LitApp and the FirstMonie Agent App.

Relating to this milestone, Chuma Ezirim, Group Government, e-Enterprise & Retail Merchandise at FirstBank, acknowledged: “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 monetary independence throughout Nigeria specifically, and in Africa at giant.’’

He added, “We worth the belief our prospects place in us to help their monetary 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 presently 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 growing customised monetary options, the Financial institution seeks to enhance the monetary well-being of people and companies throughout the nation.

About FirstBank

First Bank of Nigeria Restricted “FirstBank”, established in 1894, is the premier financial institution in West Africa, a number one monetary inclusion providers 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 totally registered by their respective Central Banks to offer full banking providers.

In addition to offering home banking providers, 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 nations.

For over 13 a long time, FirstBank has constructed an excellent fame for stable relationships, good company governance, and a powerful 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 financial institution to attain such a milestone in Nigeria). FirstBank has continued to make important investments in know-how, innovation and transformation, and its cashless transaction drive has been steadily accentuated with nearly over 25 million energetic FirstBank prospects signed up on digital channels together with the USSD Fast Banking service by way of 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 Financial institution supplies a complete vary of retail and wholesale monetary providers by way of 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 providers, FirstBank supplies pension fund custody providers in Nigeria by way of First Pension Custodian Nigeria Restricted and nominee and related providers by way of First Nominees Nigeria Restricted.

FirstBank’s dedication to Range is proven in its insurance policies, partnerships and initiatives equivalent to its staff’ 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 handle the gender hole and enhance the participation of girls in any respect ranges throughout the organisation.  As well as, the Financial institution’s membership of the UN Ladies is an affirmation of a deliberate coverage that’s according to UN Ladies’s Ladies Empowerment’s Ideas (WEPs) ─ Equal Alternative, Inclusion, and Nondiscrimination.

For six consecutive years (2011 – 2016), FirstBank was named “Most Beneficial Financial institution Model in Nigeria” by the globally famend The Banker Journal of the Monetary Occasions Group and “Finest Retail Financial institution in Nigeria” eight occasions in a row, 2011 – 2018, by the Asian Banker Worldwide Excellence in Retail Monetary Companies Awards.

Considerably, FirstBank’s International Credit score Score was A+ with a optimistic outlook whereas rankings by Fitch and Customary & Poor’s have 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 Financial institution for ESG 2024 and Nigeria’s Finest Financial institution for Corporates 2024 each awarded by Euromoney Awards for Excellence; Finest SME Financial institution in Africa and in Nigeria by The Asian Banker International Awards; Finest Personal Financial institution in Nigeria and Finest Personal Financial institution for Sustainable Investing in Africa by International Finance Awards; Finest Company Financial institution in Nigeria 2024, Finest CSR Financial institution in Nigeria 2024, Finest Retail Financial institution in Nigeria 2024, Finest SME Financial institution in Nigeria 2024 and Finest Personal Financial institution in Nigeria 2024 all awarded by the International Banking and Finance Awards.

FirstBank has continued to achieve extensive acclaim on the worldwide stage with a number of worldwide awards and recognitions obtained thus far in 2025 which incorporates Finest SME Financial institution in Nigeria 2025 and Finest SME Financial institution in Africa 2025 by The Asian Banker; Finest Personal Financial institution in Nigeria 2025 and Finest Personal Financial institution 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 Financial institution in Nigeria 2025 and Finest Financial institution for Empowering Ladies Entrepreneurs in Nigeria 2025 all by The Annual International Economics Awards.

Our imaginative and prescient is “To be Africa’s Financial institution of first selection” and our mission is “To stay true to our title by offering one of the best monetary providers potential”. 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 way of customer-led innovation and disciplined execution.”

Olayinka Ijabiyi

Ag. Group Head, Advertising and marketing & Company Communications

First Bank of Nigeria Restricted