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Fortis becomes Second Micro Finance Bank to list on Nigerian Stock Exchange

By on June 20, 2012

The Nigerian Stock Exchange has admitted Fortis Micro Finance Bank into its official daily list. This is the second micro-finance bank to be listed on the Nigerian Stock Exchange.

According to sources close to the company, the listing is part of a 3 year strategic plan which also includes raising N 7 billion in fresh capital and placing the company at the forefront of the MicroFinance banking industry.

The Managing Director of Fortis, Kunle Oketikun, speaking on the listing and general success story of the company attributed their growth to adherence to industry best practices.

He said, “Fortis Microfinance Bank Plc, since inception, has committed itself to be a microfinance bank of choice in the Nigerian financial industry.  We adhere strictly to professional standards and international best practice.  We have constantly achieved record pre-tax earnings, earnings per share, free cash flow and improved profit margins, with increased revenues and have continued to deliver superior returns to shareholders most importantly.”

“We operate at the micro level of the economy where we see very huge opportunities and we have modelled our business to exploit this opportunities to a mutual advantage with our customers,” he added.