Our Strength

Strong Industry Dynamics The microfinance market is expected to experience continued growth over the coming years. Despite new entrants in this market, BALOGUN GAMBARI MICROFINANCE BANK LIMITED expects to take advantage of this growth by rapidly expanding its operations within new geographical areas and product lines. According to a 2012 report produced by Enhancing Financial Innovation & Access (EFINA), about 39.7% of the Nigerian adult population does not have access to any type of formal financial services. This is a huge untapped market which the Bank intends to penetrate aggressively. The Bank’s aim is to put all necessary strategies in place to capture a substantial part of this burgeoning market.
Strong Industry Dynamics The microfinance market is expected to experience continued growth over the coming years. Despite new entrants in this market, BALOGUN GAMBARI MICROFINANCE BANK LIMITED expects to take advantage of this growth by rapidly expanding its operations within new geographical areas and product lines. According to a 2012 report produced by Enhancing Financial Innovation & Access (EFINA), about 39.7% of the Nigerian adult population does not have access to any type of formal financial services. This is a huge untapped market which the Bank intends to penetrate aggressively. The Bank’s aim is to put all necessary strategies in place to capture a substantial part of this burgeoning market.
BALOGUN GAMBARI MFB’s Competitive Positioning BALOGUN GAMBARI MICROFINANCE BANK LIMITED has the potential to grow rapidly to become one of the leading microfinance banks in Nigeria. The Bank has a competent management team in terms of qualification and industry experience and strong growth potential. BALOGUN GAMBARI MICROFINANCE BANK LIMITED is currently recognized as a model microfinance institution in the industry.
Good Treasury Management The bank is very careful in the choice of banks to place our statutory reserve and surplus funds. This is done to enable us maximize our returns on unused funds beyond the rate of return on investment in Treasury Bills. The Bank operate with the following Deposit Money Banks in Nigeria for the management of its surplus funds and for the purpose of correspondent banking.
  • Access Bank
  • UBA Bank
  • FCMB Plc
  • Keystone Bank
  • Polaris Bank
Unique Lending Methodology BALOGUN GAMBARI MICROFINANCE BANK LIMITED deliberately focusing its risk asset creation on the ratio of 80:20 to microcredit/agriculture financing and SME respectively. The returns and safety of its funds are more generally secured under the micro credit scheme where the focus is on the rural women at the bottom of economic pyramid. The methodology is that women are allowed to self-select themselves into a group of maximum of 10 and are jointly bound by a cross guarantee to the extent that the responsibility for a default by one member is assumed and fully and finally settled by the other nine (9) members at the centre meeting where repayment is collected weekly by our loan officers. This methodology has resulted to almost zero Portfolio at Risk.

On agriculture financing, after exercising due diligence on the lending requirements and dynamics, it take further comfort on the Agricultural Credit Guaranteed Scheme Fund (ACGSF) to protect our funds (75% of any credit extended to support is guaranteed by the CBN); Nigerian Agricultural Insurance Corporation (NAIC) to protect our assets in the event of any insured mishap in the farms of our customers and Interest Drawback Programme (IDP) to incentivize our customers towards prompt repayment of all credit accommodation extended to them (40% of interest charged on our agric loans are paid back to the customers by the CBN for every facility that was paid on time).

  SME financing is one area where we tread more carefully. The bank is disposed to financing businesses that are turnover driven with clear contribution of equity from the customers. We do not, as a rule, finance start-up businesses because one of the key conditions that drive our credit decision is the availability of pedigree of customer’s understanding of business requiring our support.

BALOGUN GAMBARI MICROFINANCE BANK LIMITED deliberately finance LPOs from blue chip companies with clear payment history for contracts and LPOs awarded by them. It also carefully finance contracts and LPOs from selected Nigerian public institutions that meet obligations to their clients reasonably as at when due. This approach is to ensure that we do not endanger the return of our principal and earnable income from granting credit facilities to our customers.

  BALOGUN GAMBARI MICROFINANCE BANK LIMITED had participated in the past for SURR-P payment and many of such programme where the bank acted as intermediary in ASA, MORO, ILORIN EAST, ILORIN WEST and PATIGI Local Government Area of the state to mention but few.