Enugu-based Umuchinemere Pro-credit Micro Finance Bank (UPMFB) is to partner with Enugu State government in the management of the state government’s Small and Medium Credit Fund.

Speaking at the bank’s Annual General Meeting, Governor Sullivan Chime said he was very confident and happy that his government was partnering with UPMFB in its poverty eradication programme, especially given the bank’s credence through the Taxi Cabs and Bus scheme.

Represented by the Commissioner for Commerce and Industry, Mr. Clement Okwor, Chime said UPMFB is widely acclaimed for its discipline, prudence, maintenance of rule of law and good corporate governance in financial management, making the bank the right choice to collaborate with to manage the small and medium credit fund.

“Government intends to partner with this bank in many areas, especially with the newly constituted Small and Medium Credit Fund which has been established by law by the state government.”

Governor Chime expressed delight over the giant strides UPMFB has made in terms of profitability, public acceptance and growth, saying the introduction of the Fund is based on how UPMFB had positively affected the lives of a large number of people in the state.

He expressed confidence that with the bank’s branches all over the state, managing the Fund will be an easy.

In his remark, chairman of the bank, Monsignor Prof. Obiora Ike, said the bank made significant and commendable progress in the year under review, posting a 10 kobo Bonus Issue for every single share.

“The bank tries to keep clean records in its corporate governance, with policies and regulations put in place to check and balance possible acts capable of diminishing the enviable track record of the bank.”

He stressed that the bank’s tradition of maintaining best practices in corporate governance and best-in-class quality services and products will be evident in managing the Fund.