NPF Microfinance Bank profit rose by 7% in 2016

NPF Microfinance

NPF Microfinance Bank plc in its financial report for fourth quarter 2016 posted 1.7 billion net interest income in contrast to NGN1.5 billion posted in the financial year 2015.

NPF Microfinance Bank plc ended the year 2016 with interest income of NGN1.9 billion compared to NGN1.7 billion recorded in the year 2015. Its interest expense for the period in review was NGN223.4 million against NGN263.3 million recorded in 2015.

Its operating expenses for the period was NGN1.8 billion compared to 1.6 billion recorded in the year 2015.

The institutions profit before taxation was NGN803.4 million for the year in review in contrast to NGN688.8 million recorded in the year before. After deducting tax expense of NGN248.5 million, NPF microfinance profit for the year rose by 7% to 5NGN54.9 million against NGN514.5 million recorded in the financial year 2015.

NPF Microfinance acquired Total Assets of NGN12.3 billion ,the same it acquired in the previous year. Its total liabilities was NGN7.8 billion against NGN8.o billion recorded in 2015.

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Company Information

NPF Microfinance Bank Plc(Formerly NPF Community Bank Ltd) was incorporated on the 19th May,1993 as a Limited Liability company under the provision of the Companies and Allied Matter Act cap c20LFN 2004.The bank provide Banking services to both serving and Retired Officers and men of Nigeria Police Force, its ancillary institution and general banking public.

The Bank commenced business on the 20th August, 1993 at 1 Ikoyi Road Obalende, Lagos having obtained a provisional license to operate as a community Bank in July 12th 1993 from the Apex Bank. The Bank has branch offices in Obalende, Ikeja, Abuja Main, Port Harcourt, Kano, Osogbo, Benin, Onitsha, Sokoto, Yola, Lokoja, Akure, Abuja 2, Bauchi, Wudil(Kano) and Lafia.

NPF Microfinance Bank Plc is engaged in the business of microfinance Banking and has emerged as one of the leading microfinance bank in this sub sector. It is a professionally managed and conservative Bank, providing a wide range of banking products and services to consumers at its various locations. Some of the services provided include Retail Banking, Loans and Advances, Money Market Activities and Financial Advisory services (to members of its community and customers.

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