First Bank digital loans hit N1trn, disburses N1bn daily

First Bank has announced the achievement of N1 trillion in cumulative instant digital loan disbursements.

First Bank announced this via a statement issued on Friday, July 18, 2025.

The bank said the accomplishment further consolidates its reputation for innovation, leadership in financial inclusion, and commitment to customer empowerment within.

Since its inaugural digital loan in August 2019, First Bank has developed an unconventional and robust digital lending ecosystem designed with Artificial Intelligence and Machine Learning, to improve access to finance, especially to the high-risk customer segment.

The bank created a multi-channel loan disbursement service that requires no collaterals, zero documentation and is void of human interactions.

Through its FirstAdvance, FirstCredit and AgentCredit products, 1.5 million unique borrowers enjoyed instant and secure access to credit. This is irrespective of whether they are salary earners, non-salary earners, or micro business owners.

They also have the convenient options of accessing these loans through platforms such as *894# (FirstBank’s USSD service), FirstMobile, LitApp, and the FirstMonie Agent App.

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Speaking on the milestone, the Group Executive, e-Business & Retail Products at First Bank, Chuma Ezirim, stated: “This success underscores our ongoing commitment to innovation and a customer-focused approach, which are central to FirstBank’s core values. Beyond achieving substantial figures.

“We remain dedicated to fostering opportunities for financial independence across Nigeria in particular, and in Africa at large.

“We value the trust our customers place in us to support their financial aspirations. Our efforts to advance digital lending will persist, especially to the excluded and underserved customer segments, while effectively managing risks in the process.”

First Bank currently disburses about N1 Billion daily in digital loans, demonstrating its commitment to fostering an inclusive, technology-driven future for Nigerians.

By consistently investing in advanced technologies and developing customised financial solutions, the bank noted that it seeks to improve the financial well-being of individuals and businesses across the country.

The Star