AB Microfinance Bank Nigeria

AB Microfinance Bank Nigeria

AB Microfinance Bank Nigeria (ABN) has provided credit and savings products since November 2008. The loans range in size from 15,000 to half a million Naira (about 70 to 7,000 EUR). Borrowers who can demonstrate that they run an existing and viable business are eligible for loans.

ABN has six offices in Lagos, the economic capital of Nigeria and one of the world’s fastest growing cities. At the end of 2010, it employed around 250 credit managers. Whenever an additional branch is opened, a new team of credit managers can set to work after four to six weeks of intensive training.

Type: 
Microfinance institution
Country: 
Nigeria
Investment product: 
Debt
Equity
Currency: 
NGN
Number of clients: 
16 383
Average loan: 
1 199 USD / 916 EUR
Portfolio: 
19.6 mln USD / 15 mln EUR