NPF Microfinance Bank To Raise N3Bn From The Market, Promises Better Performance

Yemisi Izuora
Azubuko Udah Chairman NPF Bank
The NPF Microfinance bank Plc, buoyed by its significant performance and sound financial results over time has indicated its intention to raise about N3 billion from the Nigerian Stock Exchange (NSE).

The bank will raise the funds through rights issue and public offer.

Chairman of the bank, Azubuko Joel Udah, fielding questions from capital market correspondents after sounding the closing gong today, said the funds would be used to expand the banks operations and improve on its services.

Udah said at the moment the bank has about seventeen branches and intend to cover the 36 states.

He said in the last sixteen years the bank has consistently paid dividend to its cherished shareholders.

“The board aims at raising stronger capital base, attracting new investors, raising the national profile and enhancing the leadership position of NPF Microfinance Bank in the microfinance sub-sector will no doubt grow the bank as a reputable financial institution’ he added.

He promised to avail the market and the investing public of relevant information that will propel their continuous interest in the bank.

Udah further reassured investing public and stockbrokers and other stakeholders that the bank will ensure sustenance of its superlative performance at all times.

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