Davodani Microfinance Bank said it successfully achieved a balance sheet size of N10 billion within its first 10 years of operations, marking a major milestone in its commitment to empowering small businesses and individuals across the country.
Austin Enajemo-Isire, chairman of the bank, disclosed this during the bank’s 10th anniversary celebration in Lagos, noting that what began as a struggling institution has evolved into a symbol of stability and progress.
“From the initial deficit shareholders’ fund of N5.4 million of the acquired unit MFB, we now stand strong with a balance sheet size of about N10 billion, and shareholders’ fund exceeding N3 billion,” Enajemo-Isire said.