• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Companies Corporate Updates

Mainstreet Microfinance Bank: Enhancing the socio-economic empowerment of Nigerians through innovative banking services

NM Partners by NM Partners
April 7, 2022
in Corporate Updates
Mainstreet Microfinance Bank: Enhancing the socio-economic empowerment of Nigerians through innovative banking services
Share on FacebookShare on TwitterShare on Linkedin

Mainstreet Microfinance Bank Limited ranks among the top ten leading microfinance banks in Nigeria. The bank has the singular purpose of meeting the financial service needs in the informal sector, as well as those of micro and small scale entrepreneurs and low-income earners in Nigeria.

Mainstreet Microfinance Bank Ltd (formerly Afribank Microfinance Bank Ltd) is a private liability company incorporated in November 2008 and licensed by the Central Bank of Nigeria (CBN) to provide Microfinance banking services.

Since incorporation, the bank has kept to the mandate of providing microcredits and other financial services to its teeming customers and businesses requiring funding for working capital and expansion across branches within Lagos.

RelatedStories

No Content Available

The bank’s strong brand, good corporate governance, proven management, and dedicated people are testament to its commitment to the slogan – Value to Your World.

Bank’s Primary Objective

The bank’s goal is to nurture and enhance the socio-economic empowerment of the underbanked and unbanked through innovative technology and the provision of trusted seamless financial services.

It runs a business split of 60% and 40% of micro credits and Small and Medium-sized Enterprises (“SME”) related transactions, in order to maximize its potential and impact in the marketplace.

The Bank became operationally profitable in 2012 (within 3 years of commencement of business) with profit before tax of N64.51Million and closed 2017 with a PBT of N222.63 million.

Teachers in Lagos Commend Mainstreet Microfinance Bank

In addition to servicing the different sectors in Nigeria, Mainstreet Microfinance Bank Limited have made it easy to train future leaders in Lagos state through the provision of financial instruments and loans to teachers in the state.

Comrade Hassan Akintoye, Chairman, Nigerian Union of Teachers (NUT), Lagos State Wing, commended the bank for supporting teachers from 2009 to date.

He noted that Mainstreet Microfinance Bank has been good to teachers in the state. He said: “I am happy to be here. Mainstreet Microfinance Bank has supported teachers all through the years with loans running to billions of naira. There were no hidden charges. They were factual and straight forward and consistent. They are trustworthy.”

He continued: “Mainstreet Microfinance is expanding because of integrity. Teachers in Lagos State are happy with the Bank. The Bank cherish relationship so much. We place lots of value on the Bank. We have no choice but to identify with the Bank. We will continue our collaborations with the Bank.”

Fund Raising Program

In 2019, the Bank launched a Commercial Paper Program through which it successfully raised N10Billion in short to medium-term funds.

In 2021, it launched a N2.5 billion Bond Program to support its long-term funding.

Global Recognition

In recognition of its mandate to economically empower micro-enterprises and low-income earners through innovation and provision of trusted financial services on a profitable and sustainable basis, Mainstreets Microfinance Bank and the MD of the Bank, Mr. Adegoke Adegbami, shines brightly at the prestigious 10th Global Banking & Finance Review Annual Awards.

The MD, Mr. Adegoke Adegbami, was awarded the Banking CEO of the Year Nigeria in 2020.

The bank won in two highly sought-after categories of: Best Microfinance Bank Nigeria 2020 and Best Bank for Auto Loans Nigeria 2020.

Speaking on the significance of the award to the Bank, the MD, Mr. Adegoke Adegbami, posits that the award is a testament to the innovation and exceptional customer service that the Bank is renowned for globally.

He said, “Mainstreet Microfinance Bank underpinned by good capitalisation, good profitability, satisfactory asset quality, satisfactory liquidity profile, and a stable management team.”

Mainstreet Microfinance Bank Limited’s brand new Headquarters is located at Plot 1686B, Oladele Olashore Street, Off Sanusi Fafunwa Street, Victoria Island, Lagos,

The bank’s network of branches are in Martins Street, Yaba, Mushin, Bariga, Idumota, Kosofe, Lekki-Ajah, Epe, Ikotun, Ikorodu, Ibeju-Lekki and Agege.

You can open an account with the Bank via this link: https://www.mainstreetmfb.com/open-an-account


Follow us for Breaking News and Market Intelligence.
Tags: Mainstreet Microfinance Bank
NM Partners

NM Partners

"NM Partners" encompasses a diverse range of articles and content published on behalf of various organizations, including corporate entities, government and non-governmental institutions, academic bodies, and key stakeholders in the economic sphere. This content spectrum covers press releases, formal announcements, specialized content, product promotions, and a variety of corporate communications tailored to engage our readership. Notably, a portion of these articles are sponsored content. At Nairametrics, while we provide a platform for these diverse voices, it is important to clarify that our relationship with the content under "NM Partners" does not imply endorsement or affiliation. The responsibility for the content accuracy and viewpoints expressed rests solely with the respective contributors. Nairametrics maintains a firm commitment to editorial independence and integrity. Consequently, we do not assume responsibility for any of the content published under "NM Partners." For any inquiries, comments, or feedback regarding the content featured in this section, we encourage open communication and can be reached at info@nairametrics.com. Additionally, we invite our readers and contributors to familiarize themselves with our Paid Post Guidelines, which outline the standards and processes governing paid content on our platform.

Related Posts

No Content Available
Next Post
Lagos defies NURTW, appoints MC Oluomo as Chairman of new Parks Management Committee

Lagos defies NURTW, appoints MC Oluomo as Chairman of new Parks Management Committee

Comments 1

  1. Aliyu says:
    April 9, 2022 at 8:39 am

    Famer

    Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • Onga ignites African culture and storytelling at AMVCA 2025 Culture Day with festival of flavours 
  • Anambra Govt acquires land in Aguata, Orumba for new industrial city 
  • US-based Nigerian archaeologist Abidemi Babalola wins $300,000 Dan David Prize  

Follow us on social media:

Recent News

Onga ignites African culture and storytelling at AMVCA 2025 Culture Day with festival of flavours 

Onga ignites African culture and storytelling at AMVCA 2025 Culture Day with festival of flavours 

June 12, 2025
UNDP partners with Anambra State to establish Innovation Makerspace 

Anambra Govt acquires land in Aguata, Orumba for new industrial city 

June 12, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics