NCR registers 551 microfinance banks, 21 DMBs, others to increase lending, inclusion
The National Collateral Register (NCR), registered about 628 financial institutions, including 551 Micro Finance Banks (MFBs), and 21 Deposit Money Banks (DMBs), as at December 31, 2018.
Collateral Registry’s loan portfolio hits N12 trillion
No fewer than 154,827 operators Micro Small and Medium Enterprises (MSMEs), have used their movable assets to obtain loans from financial institutions, under the National Collateral Registry (NCR), estimated at about N1.21 trillion. Out of the number, were 22,251 female-owned MSMEs, even as a number of borrowers secured credit in 2017, with their movable…