FirstBank Hits N1 Trillion Milestone in Instant Digital Loan Disbursements

• FirstBank has disbursed over N1 trillion in instant digital loans to more than 1.5 million unique customers.

• The milestone was achieved through FirstAdvance, FirstCredit, and AgentCredit products targeting salary earners, non-salary earners, and micro business owners.

• Since launching its digital loan service in August 2019, FirstBank has built a robust AI and Machine Learning-driven lending ecosystem.

• The loan process is entirely digital, requiring no collateral, documentation, or physical interaction, accessible via USSD, mobile apps, and agent platforms.

• FirstBank disburses about N1 billion daily in digital loans, emphasizing financial inclusion for underserved and high-risk segments.

• The bank commits to continual innovation and risk management to support financial independence across Nigeria and Africa.

FirstBank has announced a significant milestone, having disbursed over N1 trillion in cumulative instant digital loans to more than 1.5 million customers. This achievement stems from its digital lending products—FirstAdvance, FirstCredit, and AgentCredit—that provide instant, secure credit access to a diverse customer base, including salaried workers, non-salaried individuals, and micro business owners.

Since initiating its digital loan service in August 2019, FirstBank has leveraged Artificial Intelligence and Machine Learning technologies to create a cutting-edge lending platform. This multi-channel service eliminates the need for collateral, documentation, or physical interactions, making loans accessible through USSD (*894#), FirstMobile, LitApp, and the FirstMonie Agent App.

Chuma Ezirim, Group Executive for e-Business & Retail Products, highlighted the bank’s dedication to innovation and customer-centric services. He stressed that FirstBank remains focused on advancing digital lending to empower excluded and underserved customers while maintaining effective risk management.

Currently disbursing about N1 billion daily in digital loans, FirstBank reaffirms its commitment to promoting inclusive financial services and enhancing the economic wellbeing of individuals and businesses across Nigeria.