LivingTrust Mortgage Bank Plc won the award for the Participating Financial Institution with the Highest Impact on MSMEs Accessing Credit for the First Time for the second year in a row at the 2023 Development Bank of Nigeria Service Ambassadors Awards.
According to a bank statement, it provides credit to Micro, Small, and Medium Scale Enterprises that are first-time borrowers via its credit origination system while maintaining a very low non-performing loan ratio.
According to the award’s organizers, DBN, Livingtrust Bank’s performance in this area has provided an immense boost to DBN’s core objective of reaching MSMEs who would otherwise be unqualified for loan due to a lack of credit history.
Dr Adekunle Adewole, Managing Director of LivingTrust, thanked DBN for recognizing its unique efforts in assisting the growth and success of otherwise disadvantaged MSMEs.
“Livingtrust Mortgage Bank Plc is delighted to have received this award for the second year in a row, having previously received the award for the fiscal year 2022.” As a bank, we have physical footprints in communities where we are the only financial institution. We play important roles in driving financial inclusion in these communities by making credit available to small businesses to stimulate economic activity in rural areas. “We are proud of what we have accomplished and plan to do more in this area,” Adewole stated.
LivingTrust was represented at the award ceremony by Dr. Olumide Adedeji, Executive Director; Mr. Charles Olaluwoye, Group Head, Treasury and Institutional Partnership; and Mr. Timothy Gbadeyan, Group Head, Legal and Corporate Strategy.