List of Microfinance Banks in Borno State

If you are looking for trusted microfinance banks in Borno State, Nigeria, this post is for you. Microfinance Banks (MFBs) are licensed financial institutions that provide savings, loans, and other financial services to individuals, students, small businesses, and rural communities who may not have easy access to commercial banks. In this article, you will find the complete list of approved microfinance banks in Borno State, including their locations in Maiduguri, BAMA, and beyond.

List of All Microfinance Banks in Borno State

There are 4 Microfinance Banks in Borno State. They are

BAMA Microfinance Bank

BORNO RENAISSANCE Microfinance Bank LTD.

NGALA Microfinance Bank

UNIMAID Microfinance Bank

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Microfinance Banks in Borno State and their location.

These are the list of all 4 Microfinance Banks and their branches in Borno State

BAMA Microfinance Bank located at BAMA MAIN MARKET, BAMA LGA, BORNO STATE

BORNO RENAISSANCE Microfinance Bank LTD. located at 1, SHEHU SANDA KYARI ROAD, OFF SHEHU LAMINU WAY BY GIWA BARRACKS JUNCTION MAIDUGURI, BORNO STATE

NGALA Microfinance Bank located at ALONG MAIN ROAD, GAMBORU-NGALA, BORNO STATE

UNIMAID Microfinance Bank located at University Of Maiduguri, Borno State

The above Microfinance banks are licensed either as state MFBs,tier1 or tier 2 unit banks, meaning they are recognized by regulatory authorities and permitted to offer financial services to the public.

Structure of Microfinance Banking in Borno State

The structure of microfinance banks in Borno State is based on licensing categories:

State MFBs operate across the entire state.

Tier 1 Unit MFBs has a Wider customer reach than Tier 2, suitable for larger LGAs or semi-urban areas. It also Provides micro-loans, savings, and financial services to a bigger population within an LGA.

Tier 2 Unit MFBs focus on specific local government areas or communities.

Microfinance Banks and their Status.