MoneyTrust MfB targets 50 per cent under-bank population

MoneyTrust MFB, a newly licensed multi-purpose Microfinance bank has pledged to promote the Central Bank of Nigeria (CBN) financial inclusion through the provision of banking services to over 50 per cent unbanked population in the country.

The vision of the bank, which is located at Lekki axis, according to the Managing Director/Chief Executive Officer of the bank, Chike Memeh, is to be the leading solutions-driven bank in Nigeria.

To achieve this, he pointed out that the bank is currently focusing on strong corporate governance, core values and other assets.

“We want to be a bank that is integrated into our core customers’ aspiration by adding value. It is not just about prompt services but being a dependable partner you can rely on”, said in Lagos at the official opening of the bank.

He said the bank is one out of the 1,000 microfinance bank that has enterprise risk manager, adding that the bank will make a difference because it has quality staff and strong corporate governance.

Some of the products offered by MoneyTrust MfB include mom-prenuer (MP), which is targeted at women empowerment; youth-preneur, which is targeted at innovation and enterprise; pool funds management; cooperative partnership plan as well as micro health scheme.

“We have tailor-made account types suited for various cadres in the public. Apart from the traditional current, savings and fixed deposit accounts, some of our unique products are targeted at kids, youth, parents, small business owners, associations, religious bodies and others,” Memeh said.

The managing director said the bank’s core area of operation is research and development aimed at understanding the thinking of people and what makes man to default. “We are setting up a strong risk management culture to ensure that loan losses are minimised.

Furthermore, he said the bank has different loan types targeted at addressing the specific business needs. He said customers can visit the bank’s website to apply for loans that suit their needs or visit the office and discuss with the dedicated relationship executive.