Ecobank Set For Microfinance Operations
 13th OCT 2006

Managing Director/Chief Executive Officer of Ecobank Nigeria PLC, Mr. Offong Ambah has said the bank is set to commence microfinance banking. It is thought the microfinance operations will commence with Oke Arin, Lagos branch of Ecobank. The microfinance services will be provided through Accion Microfinance Bank Limited, one of the newly licensed microfinance banks. Ecobank holds 18 per cent of the company’s equity while other investors including Nigerian International Bank (Citigroup); International Finance Corporation, Zenith Bank and SME Partnership hold the rest of the bank’s equity.

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