With Loan Disbursements totaling N5 billion, the quickly expanding financial institution PecanTrust Microfinance Bank announced that it has reached a significant milestone in its first six years of operation.
The bank, which was granted a license by the Central Bank of Nigeria in 2016 and recently celebrated its sixth anniversary, stated that it has been concentrating on reducing poverty by facilitating access to financing for reasonably priced social infrastructure services, such as healthcare, education, and housing, and giving priority to women-owned businesses.
In addition to expressing his happiness at the bank’s accomplishments over the previous six years of operation, the bank’s director, Mr. Taiwo Oshinusi, added that PecanTrust has continued to focus on expanding financial inclusion in Nigeria and reaching unbanked consumers all around the country.
According to him, the bank has created specially suited loan and savings products for their clients, such as the Pecan Ajo savings and other Pecan SME finance loans. The bank has also put in place an ambitious plan to onboard agents and introduce its clients to its agency banking platform across the country.
“The Bank recently presented its USSD application to the market, along with its financial inclusion goal, and enhanced value features and service standards.
“We are happy that our financial inclusion measures have had a beneficial effect. Nigeria is the fifth-largest country in the world in terms of the number of adult non-banking citizens with about 60 million people.
“There is still a lot that needs to be done in the sector to assist the CBN in achieving its objectives for financial inclusion. For this reason, we have persisted in stepping up our efforts to reach the unbanked and ultimately free them from poverty. We are confident that by taking consistent action in this direction, we can accomplish our goals.
Pecantrust, however, has developed into a hybrid microfinance firm, leveraging on knowledge and its experience with the traditional banking business model, in order to speed expansion, continue to support these strategic initiatives, and improve service to consumers.
In order to expand its clientele and grow its business, Oshinusi also mentioned that the bank would soon be launching its digital application, giving customers access to more affordable, efficient, and dependable financial services.
According to him, Pecantrust Microfinance Bank provides a variety of savings and loan options and keeps creating new ones to fulfill consumer demand.
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