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ABOUT US

Home About us
1

Vision

To become the preferred provider of Microfinance services to the active poor, unbanked household, micro enterprise, as well as small and medium enterprises.

2

Mission

To provide superior technologically driven and microfinance services to empower the economically active poor, unbanked household, micro enterprise as well as small and medium enterprise in our catchment area of operation and beyond in due course, with utmost trust and returns to stakeholders. The mission to reach a large range of clients is vital but we intend doing so while remaining profitable and sustainable.

3

Core Values

Dedication, Honesty, Effective service delivery.

Our Core Values.

Financial Inclusion

We are committed to providing access to affordable financial services for the unbanked and underbanked.

Integrity

We uphold transparency, honesty, and ethical conduct in all our dealings with customers, staff, and stakeholders.

Customer-Centricity

We prioritize the needs and aspirations of our clients, offering tailored solutions and responsive service.

Accountability

We take responsibility for our actions, outcomes, and commitments to clients, regulators, and the communities we serve.

About Us

Otuo Microfinance Bank Nig Limited resulted from the conversion of erstwhile Otuo Community Bank Nig. Ltd into a microfinance bank in conformity with the Central Bank of Nigeria policy. Otuo Community Bank was incorporated in August 7, 1991 as a private Limited Company and was granted provisional license to carry on business as a community Bank on April 7, 1994. It commenced business on June 4, 1994 with an initial share capital of 1 Million in 2007.

In 2008, taking advantage of a policy shift by Central Bank of Nigeria, new investors acquired the existing shares of the bank and additional shares were injected into the bank to recapitalize the bank and convert it to Microfinance Bank.

On May 12, 2009 the bank received an approval in principle from CBN to operate as a Unit Microfinance Bank. The change of name to Otuo Microfinance Bank Nig Ltd. had earlier been approved on May, 2008 by the Corporate Affairs Commission (CAC).

The bank underwent a management restructuring in May 2008. The conversion to Microfinance bank was finally concluded in May 2008 culminating in the appointment of the present management team. Otuo Microfinance Bank commenced full microfinance business/operations in May 2008.

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30 Years of operation
5000 Active Accounts
15 Services offered

What Our Customers Say About Us

Are you still thinking of opening an account with us. Hear what some of our Happy customers are saying about us.

2
Victor Ilegbusi CEO VicMike Ventures Nig. Enterprises

Otuo Microfinance Bank is one of the best banks in Edo State, giving out loans to customers at a low interest rate.

2
Longe Blessing CEO Fefe Chemist and Provision Store

The Bank is good and the interest rate is moderately okay. They respond quickly to customers.

2
Olugbeje John Eseile CEO John Jones Electricals Electronics Enterprises

OtuoMFB is a very reliable Bank. Your money is intact with them, the staff are friendly and they are ready to support any business that is ready to grow. I personally have come a long way with them, In fact, OMFB is a good bank to have an account with if you want your money to to be safe

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