Euromoney Awards: First Bank retains ESG title

FirstBank has once again emerged as Nigeria’s Best Bank for Environmental, Social, and Governance (ESG) at the prestigious Euromoney Awards for Excellence 2025, marking the second consecutive win for the institution in this highly competitive category.

In a statement, the bank said this repeat victory highlights its sustained leadership in sustainable finance and responsible banking across Nigeria and beyond.

A Prestigious Global Recognition

The Euromoney Awards for Excellence are among the most highly regarded accolades in the global financial industry. They follow a rigorous selection process that includes comprehensive analysis and performance assessments based on strategic execution and impact-oriented criteria.

FirstBank noted that its success at the awards reflects the deep integration of ESG principles across its operational framework and community development initiatives.

Driving ESG Through Strategic Action

In 2024 alone, FirstBank evaluated 237 transactions worth over ₦3 trillion for sustainability risks, embedding ESG considerations into its credit risk management systems. This forms a core part of its responsible lending and investment approach.

Further showcasing its environmental efforts, the bank launched a tree-planting campaign in partnership with the Nigeria Conservation Foundation, planting over 30,000 trees across 16 locations in Nigeria. This is the first phase of a broader 50,000-tree initiative, projected to absorb approximately 720 tonnes of CO₂ by the end of 2025, enhancing climate resilience and promoting biodiversity.

Empowering Women and Communities

The bank’s commitment to gender inclusion is evident through its FirstGem initiative, which disbursed over ₦43 billion in loans to women-led businesses in 2024. Additionally, its FirstMonie agent network saw transaction volumes surpass ₦9 trillion, significantly boosting access to financial services in underserved communities.

“FirstBank has been proactive in gender inclusion through the Gender Market Strategy… and is committed to inclusive banking,” the statement noted.

The bank has also heavily invested in capacity building, training over 9,000 employees in ESG/sustainability practices. It hosted webinars and workshops that reached over 2,000 SMEs and corporate organizations, building sector-wide understanding of sustainable business practices.

Moreover, the FirstBank Women Network provided leadership development opportunities to over 2,000 female employees, reflecting the bank’s structural commitment to building a diverse and empowered workforce ready to meet ESG challenges.

Sustainability Built on Strong Pillars

Commenting on the award, Patrick Akhidenor, Chief Risk Officer and Chairman of the FirstBank Sustainability Committee, said:

“We are honoured to receive this prestigious award for the second time in a row, which is a validation of our efforts to create a sustainable and inclusive future for all our stakeholders.”

He emphasized that the bank’s ESG agenda is anchored on three strategic pillars:

• Education, health, and welfare

• Diversity and financial inclusion

• Responsible lending, procurement, and climate initiatives

“We remain focused on driving impact through purposeful initiatives and inclusive growth, ensuring that our ESG efforts continue to create meaningful change in communities across Nigeria and beyond,” Akhidenor added.

Leading by Example

FirstBank’s continued recognition at the Euromoney Awards underscores its role as a trailblazer in sustainable banking. As ESG considerations become increasingly vital to long-term financial performance and societal well-being, FirstBank’s holistic approach serves as a model for institutions across Africa’s financial landscape.