Thu Sep 12 00:31:16 UTC 2024: ## FCMB Disburses Over N40 Billion in Digital Loans, Focuses on Education Support
**Lagos, Nigeria -** First City Monument Bank (FCMB) has disbursed over N40 billion in digital loans to Nigerians between January and August 2024, the bank announced Monday. This significant figure is attributed, in part, to the bank’s innovative “FastCash” loan product, which helps individuals overcome short-term financial hurdles.
According to Adetunji Lamidi, Divisional Head of Personal Banking at FCMB, FastCash has proven particularly useful for families facing educational expenses. The loan, available on the FCMB New Mobile app, allows parents and guardians to borrow up to N200,000 within minutes to cover school fees, textbooks, uniforms, and other education-related needs.
“We understand the financial pressure families face, especially at the start of a new school term,” said Lamidi. “FastCash provides immediate relief by offering fast and hassle-free access to funds. Our goal is to ensure that every Nigerian can meet their educational commitments without delay or financial worry.”
FCMB also offers the “Salary Plus Loan,” designed for salary account holders to access funds in anticipation of their next paycheck.
The bank’s commitment to supporting individuals and businesses in Nigeria is further underscored by its recent $25 million agreement with the Dutch Entrepreneurial Development Bank and the European Commission, aimed at supporting small and medium-sized enterprises across the country.
This significant investment in digital lending and financial support programs demonstrates FCMB’s dedication to promoting financial inclusion and empowering Nigerians to overcome their financial challenges.
First Piper 