Source: The Guardian
Integrated Micro-finance Bank (IMFB) Limited has won the Central Bank of Nigeria (CBN) "2007 Best Micro finance Bank" award.
Prof. Chukwuma Soludo, who presented the award to the bank in Abuja recently, said it was adjudged best in the industry as a result of its laudable achievements within a short period of operation. He listed factors that qualified the bank for the award to include highest number of active customers and efficient use of financial resources as its disposal.
According to Soludo, "the bank ranks the highest in the number of active borrowers and depositors," as well as "best in financial and operational self sufficiency."
He said: "Its portfolio at risk is low when compared with other micro finance banks within the same category." He added that "as a fresh entrant in the industry, such a record of performance was outstanding, and qualified integrated Microfinance Bank limited as the best micro-finance bank of the year 2007."
The international microfinance conference and awards were introduced in 2006 after the launching of mirofinance policy by the government. The award is a platform for recognising individuals, corporate bodies, state governments, sponsors, development partners, deposit money banks and others who have distinguished themselves in their support for microfinance and entrepreneurship development in the country.
Responding to the award, the Managing Director and Chief executive Officer of the bank, Simon Akinteye, said it an attestation to their hardwork and dedication to the real sector development, adding that they value so much because it is coming from CBN. It is an award well deserved by us.
"It is an attestation to our support and help to the poor at the grassroots level," he said. "We value it very well because it is coming from the regular such as the CBN."
Revealing their future plan, he said they would make sure that the award impacts positively on their customer in the form of better services and innovative products. He stated further: "We will make sure that our customers benefit form the award as it will boost our morale in developing better products and services customers better."
IMFB was licensed in 2006 to operate micro-fiannce banking. It has won many awards locally and internationally as a result of its services and customer base. Akinteye said more business offices would be opened by the bank this year to enable more customers come in, adding that they planned to introduce good information technology to enable customers deposit effectively and withdraw efficiently. |