BusinessDay

PecanTrust disburses N5bn worth of loan in 6 years

PecanTrust Microfinance Bank achieved an important milestone with loan disbursements of N5billion as the bank celebrates the anniversary of its sixth year in operation.

Licensed by the Central Bank of Nigeria in 2016, the bank has been focusing on alleviating poverty by providing access to finance for affordable social infrastructure services including healthcare, education and housing as well as prioritizing women-led businesses.

Over six years of operations, PecanTrust has remained consistent in its focus to increase financial inclusion in Nigeria and reach unbanked customers nationwide. In line with this mission, the bank has designed tailored savings and loan products for these customers such as the Pecan Ajo savings and other Pecan SME finance loans. The bank has also implemented an aggressive strategy to onboard agents and introduce their customers to their agency banking platform nationwide.
Pecantrust Microfinance Bank offers diversified savings and loan products and continues developing new products to meet the demand of the market. In addition to its financial inclusion strategy, the bank recently unveiled its USSD application with value-added features and service delivery levels to the market.

Read also: Norrenberger makes inroad into Nigeria’s insurance, pension sectors

Speaking during the event, Taiwo Oshinusi, a Director of the Bank expressed his delight on the Bank’s achievements since inception. He said “We are delighted to have had positive impact through our financial inclusion strategies. Currently, about 60 million adults are unbanked in Nigeria, which makes it the 5th largest country of unbanked citizens globally. So much still needs to be done in the industry to support the CBN towards the achievement of its financial inclusion goals. This is why we have continued to intensify efforts to reach the unbanked and ultimately help alleviates them from poverty. We believe with continuous steps in this direction, we can achieve our objectives”.

To accelerate growth and continue to support these strategic initiatives and improve delivery to customers, Pecantrust has evolved into a hybrid Microfinance business, building on expertise and its experience with the traditional banking business model, the bank is posed to launch its digital application in a few months to scale its business and reach a wider customer base while providing access to cheaper, faster, reliable financial services.

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