Banex Micro Finance Bank

Suite C1-C2 Banex Plaza, Plot 741, Aminu kano crescent, Wuse II, Abuja.

About us

About Banex Micro Finance Bank

OUR PROFILE

BANEX MICROFINANCE BANK LIMITED was incorporated as a Limited Liability Company on 13 April, 2012 with an authorized and paid up share capital of N20,000,000 divided into 20,000,000 ordinary shares of N1.00 each. The nominal and paid up share capital were subsequently increased to N50,000,000 made up of similar shares of N1.00 each and further increased to N110,000,000 also made up of shares of N1.00 each but yet to be approved by the CBN....

Banex Microfinance Bank Limited will exist as a leading service oriented and gender sensitive microfinance institution providing efficient, affordable financial services to our low income clients there by lifting them out of poverty.

To meet the best practice in microfinance banking including empowering people economically, expanding outreach to the active poor particularly vulnerable women and promoting entrepreneurial spirit among our small business clients.

Banex MFB expects to empower the local population within its area of operation to move out of poverty through the following strategic objectives:

Provide diversified, affordable and dependable financial services to the active poor, in timely and competitive manner that would enable them to undertake and develop long-term, sustainable entrepreneurial activities.
Mobilize savings for intermediation.
Create employment opportunities and increase the productivity of the active poor in the country thereby increasing their individual household income and uplifting their standard of living.
Enhance organized, systematic and focused participation of the poor in the socio-economic development and resource allocation process.
Provide veritable avenues for the administration of the micro credit programme of the government and high net worth individuals on a non-recourse case basis.
To reduce poverty and increase prosperity among our clients by supporting their efforts through inclusive affordable access.
To achieve sustainability and financial self-sufficiency within 5years of commencing operation.
Dynamic social network: This involves sharing resources with local and international microfinance institutions in collaborative partnerships.