Microcred Microfinance Bank Nigeria Limited is founded to provide financial services to entrepreneurs un(der)served by the traditional financial sector. The bank is active in Kaduna, Northern Nigeria, one of the poorest regions of sub-Saharan Africa. It offers microloans to individuals, loans to small- and medioum-sized companies, and savings products. The bank is currently developing other products, including mobile banking products. The loan from Triodos Sustainable Finance Foundation will facilitate Microcred Microfinance Bank Nigeria Limited to grow further in the coming years.
KEY INDICATORS as of 31 December 2015:
- number of loan clients: 15,964
- percentage female clients: 29%
- percentage rural clients: 0%
- average loan amount: EUR 5,352
- number of savings clients: -