Trustfund Microfinance Bank Limited resulted from the conversion of erstwhile Alaghodaro Community Bank into a microfinance bank in conformity with the Central Bank of Nigeria policy.
In May 2007, the bank received an approval in principle from CBN to operate as a Unit Microfinance Bank. This was complemented by a change of name to Trustfund Microfinance Bank Ltd and a management restructuring. By August 1, 2007 the bank commenced full microfinance business/operations. Considering our stability and continuous growth, Central Bank of Nigeria approved our request for a state license in January 2013. The effect of this is the opportunity to have presence anywhere in Edo State. We currently have a total of 14 branches spread over the three senatorial zones of the State.
Trustfund Microfinance Bank Ltd is a State Microfinance Bank licensed by the Central Bank of Nigeria to render financial services to the poor but economically active people in Nigeria. It is our core mission to reduce poverty in Nigeria by empowering a large number of micro, small and medium enterprises through efficient, microfinance services. For ten years, we have been committed to rural traders and low income earners who ordinarily cannot be reached by conventional commercial banks with our presence in Benin, Abudu, Ekpoma, Auchi, and Uromi. This is in line with the Central Bank of Nigeria (CBN) financial inclusion strategy to bring banking service to the un-banked.
Our success in lending has earned us various strategic partnerships with Edo State Government, Central Bank of Nigeria, FGN/IFAD Rural Finance Building Programme (RUFIN) and we are one of the few MFBs nominated nation-wide to participate in the RUFIN SCHEME. In support of the financial inclusion drive of the Central Bank of Nigeria, Trustfund Microfinance Bank introduced the Door Step Bags to promote savings culture amongst the low income earners as well small and medium scale entrepreneurs.
The combination of sound technology, diligent board and a well trained and motivated employee has contributed to our success in the past 11 years. Trustfund Microfinance Bank is blazing the trail in microfinance in Edo State and will continue to extend its quality services and products to its stakeholders.