Fortis Micro Finance Bank Plc has released its financial statement for the half year period ended 30th June 2017, showing significant year on year growth across key financial parameters.
The result released through the Nigerian Stock Exchange, NSE, on Wednesday, September 6, showed that profit for the period increased by 153 percent to N677.5 million, from N268 million recorded in the same period of 2016, while net interest income rose to N1.1 billion from N692.6 million reported in June 2016.
The company’s statement of financial position for the period ended 30th June, 2017, also showed total assets improved slightly to N21.7 billion, while shareholders’ funds improved from N4.0 billion to N4.7 billion.
Fortis Microfinance Bank Plc. is Nigerian financial institution licensed by the Central Bank of Nigeria (CBN) in 2007 and listed on the Nigerian Stock Exchange as the first private sector led Microfinance Bank in 2012.
The bank has the goal of meeting the high demand for microfinance banking services by providing flexible banking solutions to support the development of entrepreneurship and empowerment of the economically disadvantaged micro, small and medium scale enterprises (MSME) and individual.
Fortis provides a wide range of financial services to a substantial and diversified client base that includes low-end entrepreneurs, the under banked, cooperatives and high-net-worth individuals among others.
Fortis operates out of 16 strategically located branches with a growing customer base, made up of Micro, Small and Medium Enterprises (MSMEs), individuals and groups who have benefited from Fortis loans and other value added services.
The Bank has replicated itself within Nasarawa, Niger, Abuja and Lagos environs.
