Standard Micro Finance Bank LTD reaches cumulative loan disbursement of over 8bn

By Abubakar Muhammad Adamu

The Standard Micro Finance Bank Limited has reached a Cumulative loan disbursement of over eight billion naira with a total borrowers in excess of one hundred and thirty thousand across Adamawa in the last few years.

The Chairman Board of Directors of the Bank, Alhaji Babale Umar Girei disclosed this during the official Commissioning Ceremony of the Corporate office of the Bank in Jimeta.

He said the Micro Finance Bank Limited which has a glorious history of twenty-nine years in the service of Adamawa People with authorised shares of five million naira and paid-up capital of only two hundred and fifty thousand naira, is now with more than one-billion-naira shareholder’s funds.

Alhaji Babale noted that the bank so far has twelve branches with over seventy thousand customer base in Adamawa state.

The chairman narrated that the bank has financed the development of education through construction of classrooms and provision of students desks in various schools and protecting environment through financing ownership of over seven thousand dollar lamps at subsidized rates within the state.

The Bank according to the Chairman Board of Directors, is on a robust IT platform to give its customers online real time services in order to keep Pace with time.

He pledged that the bank will continue to pursue innovations in order to respond to new Dynamics.

The chairman saluted principal shareholder of the bank Alhaji Atiku Abubakar for his continued support to the bank and appreciated Customers for their patronage.

Alhaji Babale while appreciating Adamawa state government for providing enabling environment for the bank to operate, called on Governor Ahmadu Umaru Fintiri to take advantage of IT platform of the bank to implement its Adamawa state agribusiness support programme in the state.