Who We Are
To reduce poverty and make financial services available to the huge catchment of unserved active poor
in
the urban and semi-urban areas of Uyo and Akwa Ibom State in general; a group of private citizens from
diverse
professional backgrounds met and conceived the idea of establishing a Microfinance Bank
that would be dynamic and unique.
The company was incorporated as a limited liability company in May 2017 and commenced banking operations
in 2018 following the
grant of a license by the Central Bank of Nigeria (CBN) in February 2018. The Bank’s authorized
and fully paid up share capital is N100, 000,000. 00 (One Hundred Million Naira) and
the Head Office Branch address is at No 2 Udo Udoma Avenue, Uyo, Akwa Ibom State.
Who we Are
To offer quality and cost-effective
microfinance services through a highly
motivated workforce for the benefit of
our various stakeholders
To be a well-managed, innovative and reliable
motivated workforce for the provider of Microfinance
services to low income satisfaction of our
stakeholders. and economically active
poor people in Akwa Ibom State.
To be ranked among the top 5
microfinance banks in Nigeria
To be the renowned partner in poverty alleviation
for the economically active poor
To be a beacon for world-class microfinance bank
service delivery in Akwa Ibom and beyond
To be known for found corporate governance
practice, with regard to microfinance business in Nigeria.
Quality Service Delivery
Customer-focused
Appropriate information technology
Protective board and management
Personal and competitive remuneration
Efficient service infrastructure
Adequate capitalization
Corporate Social Responsibility (CSR)
To provide loans to low-income and economically
active poor people in Akwa Ibom State.
To provide savings facilities for
low-income and economically active poor people.
To provide advisory services to
micro and small business operators.
To promote entrepreneurship and
self-reliance
OKPOGA Microfinance Bank’s performance as reported in 2019 audited Financial Statement
has been steadily positive from inception despite challenges posed by the instability of the
economic, political environment and security situation in the country. Gross earnings increased
by 140.7% to N74, 769,892 (December 2018: N31, 064,437), as a result of strategic process
review to improve risk assets and enhance other income streams. The Bank made a full year
profit before tax of N3,779,309 after writing off preoperational expenses and accounting
package which sum up to N8,553,457. In addition, we also created net risk assets of N154,
102,851, up 162% from N58, 789,151 in 2018.
Deposit liabilities grew to N79, 002,818, 181.7% higher than N28,
046,706 in 2018 while gross income increased to N74, 769,892 by 140.7% from N31, 064, 437 in 2018.
Our total active customer account was 3,156 as at 31 December 2019, with 1,985 new accounts. As a going concern,
we intend to maintain a steady growth of over 50% annua
OKPOGA Microfinance Bank’s performance as reported in 2019 audited Financial Statement
has been steadily positive from inception despite challenges posed by the instability of the
economic, political environment and security situation in the country. Gross earnings increased
by 140.7% to N74, 769,892 (December 2018: N31, 064,437), as a result of strategic process
review to improve risk assets and enhance other income streams. The Bank made a full year
profit before tax of N3,779,309 after writing off preoperational expenses and accounting
package which sum up to N8,553,457. In addition, we also created net risk assets of N154,
102,851, up 162% from N58, 789,151 in 2018.
Deposit liabilities grew to N79, 002,818, 181.7% higher than N28,
046,706 in 2018 while gross income increased to N74, 769,892 by 140.7% from N31, 064, 437 in 2018.
Our total active customer account was 3,156 as at 31 December 2019, with 1,985 new accounts. As a going concern,
we intend to maintain a steady growth of over 50% annua