AEMFB profile

Awka – Etiti Microfinance Bank Limited was incorporated as a private limited liability company on the 22nd day of April, 1989 with Rc. No. 195264, and with authorized share capital of N250,000 made up of 250,000 ordinary shares of N1.00 each. As a result of sustained growth and planned expansion the authorized share capital has since then been increased to N100,000,000 made up of 100,000,000 ordinary shares of N1.00 each, all the additional shares ranking pari-pasu with the original/former shares.

Awka – Etiti Microfinance Bank derives its name from Awka – Etiti Autonomous Community town located in Idemili South LGA of Anambra State. It is a Community located east of Nnewi, town and bordered by Nnobi on the West and North by Nnokwa respectively. The town has 7 Villages namely Nkolofia, Umunocha, Ejighinandu, Iruowelle, Umudunu, Nnaba and Ogunzelle.

The bank commenced business in 1992 as Awka – Etitit community Bank Limited under the provisions of the Community Banks Decree No. 46 of 1992 and the Bank and other Financial Institutions Decree No.25 of 1991.

The primary objective of the bank is to provide excellent and comprehensive financial services and advice to Awka –Etiti Community in a friendly environment, and to encourage savings culture among the people and also to develop the growth of commerce and industry in Awka –Etiti.

The bank was issued final license on 25th May 2004 by the Central Bank of Nigeria (CBN) to operate as community bank and obtained its final approval as Microfinance Bank on the 7th day of February, 2008.

The Board, Management and staff comprise of individuals who are committed, and have wealth of experience from diveres fields of endeavours to bear on the performance of the bank.

The Bank is owned by the Awka – Etiti Community. The shareholders include Awka – Etiti Development Association, family Unions, Trade Association and individuals. The equity shares of the bank is now N52,269,319.