Infinity Microfinance Bank unveils its new brand identity
By Lydia Ngwakwe
Lagos, July 7, 2021, Infinity Microfinance Bank Ltd unveiled a new logo at the Nigeria Mall on Wednesday, to recognize its endless growth, dynamism and success.
The bank’s group chief executive, Clara Oloniniyi, said at the unveiling in Lagos that the recognition follows the bank’s 20 years of success in business.
According to her, Infinity Microfinance Bank now has more than 40 branches in Lagos State.
Naija247news reports that Inifinity Mircofianace Bank Limited is an organization that helps its members start small businesses, grow their small businesses, and improve businesses on a large scale.
The bank, created in 2001, launched its microfinance activity as a savings collector and money lender (Alajo).
“We are unveiling this logo today to appreciate our continued growth, drive and success, following 20 years of success in microfinance in Nigeria,” she said.
The managing director said the bank has experienced a smooth and steady transformation without a hitch during the period.
She said: “Infinity Microfinance Bank Ltd went from being a savings collector and money lender to being a community bank in 2005 with a capital base of 5 million Naira.
“In 2007, the federal government banned community banks and created microfinance banks.
“Infinity Microfinance Bank also obtained the license with a capital base of 20 million naira.
“However, today I am proud to announce to Nigerians that Infinity Microfinance Bank Ltd is now a state-owned microfinance bank, operating on a capital base of over 1 billion naira.
“This microfinance bank is the 14th microfinance bank approved by the Central Bank of Nigeria in 2007,” she said.
According to her, the bank will continue to help traders with the loans needed to start a good business.
One of the bank’s shareholders, Mr. Jonathan Abaniwonda, praised the bank for standing out among other microfinance banks.
“To my surprise, this bank which started out as a savings collector and money lender has achieved extremely remarkable results compared to other microfinance banks which started their operations with euros.
“Today, Infinity Microfinance Bank is among the leading retail microfinance banks in Nigeria in terms of customer base. The microfinance bank with 250 employees in 40 branches in Lagos, ”said Abaniwonda.
Mr. Oloniniyi Tope, the bank’s chief consultant, expressed optimism that the bank would soon become a national microfinance bank to be reckoned with.
“As the bank’s chief consultant, the feasibility studies on how to achieve this goal in a short time have started,” he said.
The consultant, however, called on President Muhammadu Buhari to consider a post COVID-19 intervention for microfinance banks, to enable them to improve the financial empowerment of Nigerians.
“I want to appeal to Buhari to support microfinance banks with easy loans without complicated requirements to access funds,” he said.
Beaides, he said the bank was ready to do more, with the unveiling of its new logo