•Disburses N601m in half year

By Providence Obuh

The Umuchinemere Pro-Credit Microfinance Bank (UPMFB) has said that there would be economic improvement by the end of the year with a view to achieving its targeted disbursement for 2016. Also, the bank in its financial statement for the half year ended June 2016,  made a total funds disbursement of N600,860,143 to about 1,890 active poor people. In a statement, Acting Head of Credit, Mr. Charles Udeani, said that the amount disbursed in the period under review met the bank’s target, with the facilities performing above average. He disclosed that of the total amount disbursed, a total of 357 rural clients benefitted the sum of N77,639,069.

The statement signed by Head of Public/Media Relations, Sir Abuchi Anueyiagu, indicates that women beneficiaries were the greater in number than the men.  According to Udeani, “I am optimistic that there would be economic improvement in the country by the end of the year and we are focused and determined to achieve our target of fund disbursement for the year, so that we can further create jobs and lift many more people out of poverty by the end of 2016.”

He advised the bank’s loans officers to always lend money to people of good character and conscience, adding that the bank is striving to meet customers’ financial needs by continually introducing products and services that suit their needs by extending its services to the rural areas. He further advised  beneficiaries of the bank’s micro credit facilities’ to avoid multiple borrowing but ensure prudent use of the facilities for the purpose for which it was given out, ensuring prompt payment to sustain their relationship with the bank.

He said, “the facilities are aimed at creating maximum wealth for the beneficiaries. The remaining half of the year would be better, the anti graft war of government will start yielding positive dividends on the economy by then.” Meanwhile, the Enugu State based microfinance bank has continued the extension of its financial services and products to the rural populace, with a recent opening of an office at the State Polytechnic, located in Iwollo in the Ezeagu Local Government area.