The management of Enugu-based Umuchinemere Pro-credit Micro Finance Bank Limited (UPMFB), on Tuesday said it extended credit worth N451,182,305 to customers in the first six months of 2018.
A statement by the bank, owned by the Catholic Diocese of Enugu, as an agent of the economic evangelization mission and poverty alleviation of the church, said a total of 2,114 customers received some form of intervention in the process. The amount represents a 10.25% rise over the N409.205m extended to 1,774 beneficiaries in the corresponding period of 2017
A breakdown by Abuchi Anueyiagu, the bank’s Head Public/Media Relations Unit, should that loans of various forms were given to improve the quality of lives of 809 female beneficiaries, engaged in various micro, small and medium enterprises.
Male beneficiaries however stood at 1,305, who collectively received N257.045m, or 56.97% of the total sum.
The statement quoted Charles Udeani, Head of Credit at the bank as saying that while small businesses got a total of N98.1m in all, customers in the Agriculture and Housing microfinance sectors received N30m and N10.9m respectively.
Compared to its target of N600m, the statement expressed the hopes by management of an improvement in the country’s macro-economic climate which would enable it meet the target set for the year 2018.
UPMFB began operations on July 22, 1995 as a community bank and later transformed to a microfinance bank in 2007.