CIT Microfinance Bank Limited says it has disbursed about N16bn loans since it commenced operations as part of its contributions to the financial sector and empowerment of businesses.
The Managing Director of the microfinance bank, Mr Kingsley Eremionkhale, disclosed this during the company’s 10th anniversary in Lagos recently.
He reiterated that the bank is committed to supporting the growth of small and medium-scale enterprises in the country.
“Since inception, we have disbursed loans worth about N16bn. Our operation is not just about profit-making, but we have impacted many lives, empowered many businesses, and done a lot in terms of our core mandate as a microfinance bank.”
While appreciating its customers who had been loyal to it for years, he said the MFB is concerned about their business success.
The Managing Director said, “We are part of our customers’ businesses. We provide services beyond lending and savings products and we also give financial advisory services.”
He appreciated the customers who had stayed with the financial institution for many years.
Eremionkhale noted that the MfB is a state-licensed bank operating in Lagos, and a subsidiary of Capitalfield Investment Group.
He also attributed the success of the MfB to the board of directors which he said had been supportive of the management team and its workforce in the past 10 years.
While saying that the bank could lay claims to exponential growth, he said the public should expect more from it.
He also said that it was driving its operations through its digital offerings and e-channels, to improve its services to our customers.