Who we are
Mainstreet Microfinance Bank Limited has the singular purpose of meeting the financial service needs in the informal sector, as well as those of micro and small scale entrepreneurs and low income earners in Nigeria.
Mainstreet Microfinance Bank Ltd (formerly Afribank Microfinance Bank Ltd) is a private liability company incorporated in November 2008 and licensed by the Central Bank of Nigeria (CBN) to provide micro-finance banking services.
Since incorporation, we have kept to our mandate of provide micro credits and other financial services to our teeming customers and businesses requiring funding for working capital and expansion across our branches within Lagos.
Our strong brand, good corporate governance, proven management and dedicated people are testament to our commitment to our slogan ……value to your world
Our Core Values
We shall as much as possible keep to our words, strive to build and retain the confidence of our clients and other stakeholders.
Our services shall be with dynamism and better solutions.
Our work environment shall be such that team work will be highly encouraged.
We shall set the pace and direction while others follow.
We shall strive to deliver the best of service to our clients.
Our work environment will at all times provide rewards to hard work and excellence.
Main Service Offerings
The main activity of the bank is to carry on business as a micro-finance bank.
- This involves the provision of financial services to micro, small and medium scale enterprises and other low income people in Nigeria in the form of working capital and loans.
- The bank is eligible to accept deposits from individuals, groups and organizations and also raise finance in accordance with the CBN regulations and guidelines on micro-finance banks.
Our Primary Objective
Our goal is to nurture and enhance the socio-economic empowerment of the underbanked and unbanked through innovative technology and provision of trusted seamless financial services.
It runs a business split of 60% and 40% of micro credits and Small and Medium-sized Enterprises (“SME”) related transactions, in order to maximize its potentials and impact in the market place.
The Bank became operationally profitable in 2012 (within 3 years of commencement of business) with profit before tax of N64.51 million and closed 2016 with a PBT of N168.76 Million