Draft:Mutual Trust Microfinance Bank


Mutual Trust Microfinance Bank[1] (MT MFB) is a private microfinance bank headquartered in Wuse 2, Abuja, Nigeria. Established in 2016,[2] it aims to be a leading microfinance bank in the country. The Chairman of the bank is Mr. Dare Adeniji and the MD/CEO is Mr. Josh Oyebisi.[3]

History

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Mutual Trust MFBank began operations with a limited team[4] and product range. Through strategic changes in leadership and focus, the bank has grown to become a prominent microfinance institution in Nigeria. Their initial focus shifted to serving the "lower echelons of the economic pyramid" specifically, targeting households and small businesses.

Current executives

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The table below shows the current Group Board of Mutual Trust MFBank Limited:

S/N Name of Executives Title/Designation
1

Jare Adeniji

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Chairman
2

Dr. Mike Egboh

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Director
3

Dr. Franklyn Akinyosoye

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Director
4

John Aond'Akaa Abwa

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Director
5

Bukoye Ayoola

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Chief Marketing & Strategic Officer
6

Gbenga Omotoyinbo

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Chief Financial Officer
7

Gbenga Adetola

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Chief Corporate Services Officer
8

Babatunde Alabi

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Head Risk management Risk
9

Odiaka Gerald

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Head, Audit & Chief Compliance Officer
10

Omotola Balogun

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Head, Operations
11

Isaiah Omede

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Ag. Head, Internal Control

Products

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Mutual Trust MFBank offers a range of microfinance products tailored to specific client needs:

  • SME Loans: Small loans for entrepreneurs and small businesses.
  • MT Loans: Loans specifically for public organization employees.
  • Savings Accounts: Accounts for individuals and groups to save money.
  • MT Plus Loans: Loans for private organization employees.
  • IPPIS Loans: Loans for federal civil servants in Nigeria with active employment status.[5]
  • Deposit: Guaranteed ROI for individuals/organisations looking to invest and grow their funds.

Impact

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Mutual Trust MFBank has a reported positive impact on the communities it serves, including:

  • Financial Inclusion: Providing access to essential financial services for low-income individuals and communities.
  • Economic Empowerment: Enabling clients to start or expand businesses, invest in education and healthcare, and improve their overall well-being.
  • Poverty Reduction: Contributing to poverty reduction by providing access to financial services and promoting economic opportunities.[6]

References

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  • ^ https://www.mutualtrustmfb.com
  • ^ "Mutual Trust MFBank Limited - Quick Loans in Nigeria". 2019-06-11. Retrieved 2024-09-03.
  • ^ Oyebisi, Josh. "MD/CEO, Mutual Trust Microfinance Bank". LinkedIn.
  • ^ Partners, N. M. (2023-07-19). "Mutual Trust MFBank commits to employee well-being with salary increase". Nairametrics. Retrieved 2024-09-03.
  • ^ Esealuka, Ronalds. "Mutual Trust Microfinance Bank Ltd - Credit Rating". DataPro Limited. Retrieved 2024-09-03.
  • ^ Aneasoronye, Modestus (2024-01-03). "Mutual Trust MFBank gives back with festive food drive". Businessday NG. Retrieved 2024-09-03.
  • Category:Banks of Nigeria