About Us

We serve as a catalyst for poverty alleviation

Our story

Our story

Babcock Microfinance Bank limited is a unit microfinance that started operations in 2012 with a shareholders’ funds of ₦20 million, and an authorized capital base of ₦100million.
It has a Board of Directors, Management staff and key officers responsible for its day-to-day operations, this is shown in its organizational chart.
Babcock Microfinance Bank limited was formed with the aim of offering normal banking services such as acceptance of various types of deposits like savings, term and demand. It also provides credits to its customers.

Apart from the above, the Bank has specialized products such as;

BFMB target savings scheme,

BMFB assets acquisition scheme,

LPO Finance,

BMFB Education loans etc.

These products are designed to attract deposits and create the necessary credits.

Mission

To serve as a catalyst for poverty alleviation, enterprise development, wealthy creation through the use of appropriate technology and professional competence.

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Vision

To be a veritable bank in eradication of poverty and encourage community development through provision of excellent microfinance services.

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Objectives

A. Growing of deposit portfolio. B. Granting of Loans and Advances. C. Dividend and returns to the stakeholders. D. Expansion plan. E. Manpower Development and Training.

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Management Team

Mr Rasheed Babatunde Idowu

Mr Rasheed Babatunde Idowu

Manager

Mr. Idowu with his over 26 years of experience exhibits significant professional competence underscored by his academic achievements, including an MBA in Finance, coupled with extensive leadership experience in the financial sector. His career progression spans roles as an Operation Manager, Business Development Manager, and currently as the Managing Director of Babcock Microfinance Bank since 2015. he is a member of ICAN, CIBN The Chartered Institute of Loan and Risk Management of Nigeria and Nigeria Institute of Marketing of Nigeria [NIMN].