NPF Microfinance bank posts 12% rise in profit in q2

NPF Microfinance

NPF Microfinance Bank PLC is reporting 12% rise in profit to NGN508.4 million compared to NGN454.4 million recorded in the year.

Gross interest income rose to NGN1.1 billion interest income compared to NGN947.0 billion in the year before while interest expense was NGN137.5 million in contrast to NGN111.0 million posted in 2016.

Net interest income for the period under review against NGN835.9 million in the year before while operating profit was NGN1.5 billion against NGN1.2 billion in the year 2016.

Total assets was NGN16.8 billion in contrast to NGN14.8 billion in the year before while total liabilities was NGN11.9 billion versus NGN10.0 billion in the year before.

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.

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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