Ukwala Microfinance Bank Limited was floated by well reputable individuals who were the promoter and major shareholder as its Alta ego. It was incorporated on 20th May,2015 and issued license to commence operation by the Central bank of Nigeria on 11th November 2015. The bank was one of the youngest micro finance bank in the country. At Ukwala MFB, we are dynamic and seek to alleviate poverty by empowering the poor to move out of poverty level. To achieve this, we seek to:
Provide financial services to the active poor, low income earners etc.
Bridging the stress usually associated with loan processing for business people
Offering financial advices to customers on what type of business to adopt.
Simplicity of operation.
Creation of employment opportunities and increasing the productivity and household income of the active poor in the country, thereby enhancing the standard of living.
THE BANK’S PRODUCTS
The Bank's products includes current account, savings account with cheque, target saving account, group saving account, retirement saving account, salary advance, personal loans, xmas account, ito ogbo account, hire purchase financing account,loans, fixed deposit account, esusu, property acquisition account, ukwala children educational scheme account, etc.
OUR CORE PRINCIPLES
TARGET GROUP ORIENTATION-
Our marketing strategy are designed to attract the largest group of micro, small and medium sized enterprises (MSMES) as well as general lower income clientele who are often overlooked by other commercial financial institution.
HIGH QUALITY PRODUCT AND SERVICES
We set high standards with regards to our product portfolio. Our level of customer focus, efficiency and speed of the services we provide. We concentrate in the market segment which is currently under-served by commercial banks and other financial institutions.
EFFICIENCY AND STANDARDIZATION
We process efficiency in order to compensate for the initial low transaction volumes through streamlines operational structures, high degree of standardization at both the product and process level as well as a reliable and effective information management system.
PRUDENCE
We follows prudential standard, regard to accounting financial policy and risk management. We institute conservative principle with respect to capital adequacy, liquidity holding, portfolio diversification, asset-liability management, credit limits and provisioning.
