Diamond Bank props SMEs with N100bn loan in five years

Diamond Bank said it has in the past five years spent the sum of N100 billion to empower over 60,000 Small and Medium Enterprises (SMEs) operators in the country.

The bank says it also expended between N70 million and N80 million to train and empower about 150 entrepreneurs at the Lagos Business School.

Chima Nnadozie, head, MSMEs segment of the bank, gave the hint recently in Benin City at the 42nd Diamond Bank Business Xpress Enterprise Series seminar with the theme ‘Pathway to sustainable business growth’.

Nnadozie, who said the MSMEs sub-sector of the economy could not be underrated, noted that the programme was geared towards building capacity among the MSMEs businesses.

He said about 10,000 genentrepreneurs have so far benefited from the capacity building programme which has been held in about 18 states of the federation.

According to him, “We have so far lent over N100 billion to 60,000 SMEs in the past five years. That is from 2009 to date. That is the much we have done and we will continue to do more. We are probably the only bank to lend to SMEs without collateral. But it doesn’t matter to us because we understand them and doing all these we get feedback and understand where it is pinching them and we respond.

“We have trained over 10,000 entrepreneurs in the past five years. The training programme commenced in 2009 and in every state we expect about 250 participants.

“As corporate social responsibility, Diamond Bank trains 50 entrepreneurs every year at Lagos Business School.”

IDRIS UMAR MOMOH, Benin