The Umuchinemere Pro-credit Micro
Finance Bank (UPMFB) said it made a total funds disbursement of N1.142
billion in 2015, out of which was a total of N712.4million micro credit
funds that were given to 3,814 active poor people..
This was contained in an unaudited
management report of the bank provided by the bank’s Head of Credit, Mr.
Ikechukwu Ngene.
The gender distribution of the facilities indicated
that there were more male beneficiaries of the bank’s micro credit funds
than females in 2015. Of the total beneficiaries, 2,085 were males
while the remaining 1,729 were females.
In the previous year, there were also
more male beneficiaries of such facilities than the females, as the male
beneficiaries in 2014, for instance, were a total of 2,300, while the
females were 1,986.
In 2014, the bank gave out a total micro loans of N659.7 million but stepped it up by N52.7million in 2015.
And on the N220 billion federal
government’s micro, small and medium scale enterprises (MSME)
development fund in which it is also participating in its disbursement,
in partnership with Enugu State Government, the UPMFB disbursed a total
of N180,740,000 to 548 beneficiaries in 2015.
Ngene expressed happiness that despite
the hash economic condition of the present times the bank’s credit
beneficiaries were doing well.
He however advised the bank’s loan
beneficiaries to always ensure prudent use of the facilities on viable
ventures and to avoid multiple borrowing because credibility matters a
lot in borrowing.
Having achieved over 90 per cent of its
loans projection in 2015, the bank has projected a total credits
disbursement of N1.5billion in 2016.
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