LivingTrust Mortgage Bank emerges as the recipient of the MSMEs Funding Award
LivingTrust Mortgage Bank Plc has once again secured the accolade for the Participating Financial Institution with the Highest Impact on MSMEs Accessing Credit for the First Time, at the 2023 Development Bank of Nigeria Service Ambassadors Awards, marking the second consecutive year of achievement.
In a statement released by the bank, it highlighted its commitment to providing credit to Micro, Small, and Medium Scale Enterprises (MSMEs) who are first-time borrowers. The bank employs a credit origination system that ensures a remarkably low non-performing loan ratio.
The organizers of the award, DBN, commended LivingTrust Bank's outstanding performance in facilitating credit access for MSMEs, particularly those without a credit history. This contribution significantly aligns with DBN's core objective of reaching MSMEs that may have otherwise been ineligible for loans due to a lack of credit history.
Expressing gratitude, Dr. Adekunle Adewole, the Managing Director of LivingTrust, extended thanks to DBN for acknowledging the bank's distinctive efforts in supporting the growth and success of disadvantaged MSMEs.
Dr. Adewole stated, "Livingtrust Mortgage Bank Plc is honored to receive this award for two consecutive years, following our recognition for the 2022 financial year. As a bank, we maintain operational presence in communities where we stand as the sole financial institution. In these locales, we play crucial roles in fostering financial inclusion by providing credit to small businesses, thereby stimulating economic activities in rural areas. We take pride in our accomplishments and remain committed to furthering our impact in this realm."
Representing LivingTrust at the award ceremony were Dr. Olumide Adedeji, Executive Director; Mr. Charles Olaluwoye, Group Head, Treasury and Institutional Partnership; and Mr. Timothy Gbadeyan, Group Head, Legal and Corporate Strategy.
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