Posted on June 17, 2009 - by Gavin

Microfinance Bank Disburses N1.5bn for Poverty…

Thisday Online

Over 10,000 customers of  ACCION Microfinance Bank (AMfB) have benefited from the N1.5 billion loans disbursed by the bank as part of its efforts to fight poverty.

The bank’s Managing Director/Chief Executive Officer, Bunmi Lawson, who made this known at the bank’s Annual General Meeting (AGM) in Lagos, disclosed that the year closed with N715 million in active loan portfolio and over 8,600 borrowers.

“The past year presented us with many opportunities which by taking action we turned into significant accomplishments in ACCION Microfinance Bank. I am pleased to report that in furtherance of our role to make the future bright for our customers”

” AMfB disbursed over N1.5 billion in loan to over 10,000 loan customers closing the year with N715 million in active loan portfolio and over 8,600 borrowers. In addition, we have over 20,000 savings customers with N143 million in saving deposits”, she said.

Stating the bank’s achievements in the year ended, she said the bank was nominated as the microfinance bank of the year together with giants in the African microfinance industry.

“During the year, our shareholders also approved the increase of paid up share capital to N1.2 billion and has been fully paid up in recognition of our role in empowering low income earners.

“We got nominated as the African Microfinance Bank of the year together with giants in the African microfinance industry and equity bank, a sure sign of great expectation from the bank in the future”, Lawson said, promised customers  better times ahead.

Source: http://www.thisdayonline.com/nview.php?id=146277