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Onitsha Catholic Micro finance bank holds AGM, celebrates 20 years anniversary

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PHIL OKOSE, Onitsha

Oluchukwu Micro finance bank limited, owned by the Onitsha Catholic Archdiocese, Anambra state, Thursday held its Annual General Meeting, AGM and also celebrated its 20 years anniversary at Shanaham hall, Onitsha.

Speaking at the occasion, the chairman Board of Directors, Chief Ikem Osanakpo, said that the number of Micro finance banks, MFBs, in the country as at the year ended December 2019 were 991 compared with 885 recorded in 2018.

“This comprised of 10 National, 135 state and 766 unit MFBs. Total assets /liabilities of MFBs was #496.86 billion at end December 2019, compared with # 421. 95 billion at end December 2018.”

He said that Oluchukwu Micro finance bank recorded a profit after tax #213, 122, 165 for the period ended 31st December , 2019 and total deposit equally grew by 12.4% from #3, 292,030,831 in 2028 to #3,697,601, 690 in 2019.

Osanakpo stated further that for the year ended December 2019 a total of #32, 122, 516, 32, that is 12 Kobo per ordinary share of #1 each was recommended for shareholders.

He expressed satisfaction with the appointment of Chief Victor Ibemesi as the Non Executive Independent Director adding that he is an experienced certified accountant of the Association of National Accountants of. Nigeria, ANAN.

Highlight of the occasion was the presentation of prizes to hardworking staff and customers.

 

 

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