By PROVIDENCE OBUH

AB Microfinance Bank, a foreign-owned national Microfinance bank licensed by the Central Bank of Nigeria officially opened its 15th branch in Ibadan, Oyo state capital.

Speaking during the branch opening ceremony in Ibadan, the Managing Director/Chief Executive Officer of the bank, Mr. William Bonilla, described the branch opening as a milestone achievement for the bank, especially as this is the first branch outside Lagos State where the bank already have 14 branches.

Bonilla added that the bank aims to contribute to the social and economic development of Ibadan and Oyo state in general by providing financial services to Micro, Small and Medium scale entrepreneurs in the state through a wide range of savings and lending products.

Also speaking at the occasion, the Branch Manager, Mr. Seun Olowoyeye, reiterated that the state is peaceful and conducive for business, saying, “the inhabitants of the city are very accommodating and have started patronizing the banks array of deposit and lending products.”

He added that over 700 individuals have opened savings and term deposit accounts with the branch and that over 900 clients have benefited from loans made available by the branch since it began operations in the state on July 15, 2014. The official opening was performed by the representative of Iyaloja of Ibadan, Mr. Olumide Oluwaraye, also the General Secretary, Aleshinloye market, and witnessed by market leaders, representatives from Aleshinloye market, new Gbagi market, Ogunpa market, Agbeni market, including staff and the entire Management Board of AB Microfinance Bank Nigeria Ltd.