Polaris Bank has been adjudged as the "Best Bank for MSMEs" for the third consecutive year, firmly securing its competitive edge as the leading bank for micro, small and medium businesses.

The bank in a statement said the latest award at the Banks and Other Financial Institutions Awards (BAFI) Awards highlights it's well-known considerate lending and general supports for small businesses and the real sector.

Experts and analysts at BAFI Awards 2024, a well-regarded and prestigious financial industry awards, have for three consecutive years voted Polaris Bank as the best bank in totality of the ecosystem for micro, small and medium enterprises (MSMEs). Polaris Bank is the only bank to have won such consecutive honours for MSMEs ecosystem.

Commenting on the award, Managing Director/CEO of Polaris Bank, Mr. Kayode Lawal, said the continuous recognition of Polaris Bank as the best in MSMEs ecosystem, underlines a deep commitment to the nation's economy and entrepreneurship.

He noted that MSMEs are critical in the value chain of economic growth and development as they, traditionally, are the largest employers, backbones for industrialisation and major drivers for innovations.

According to him, with more than N60 billion disbursed to MSMEs in the first eight months of the year, Polaris Bank has continued to prioritise small businesses and the real sector under its impact lending.

"This award is a further motivation for us, as it is also another confirmation of our leadership in the MSMEs space. We continue a strong focus on small and medium businesses with our impact-focused banking that prioritises loans and other supports for MSMEs, fostering innovations, equal opportunity, entrepreneurship and sustainability.