Despite the odds associated with contemporary gloomy economic climate of the country, the Umuchinemere Pro-credit Micro Finance Bank has continued to expand, as it has established operations in the rural area of Umumba Ndi Agu in the Ezeagau local government area of Enugu.
The new office of the bank at Umumba Ndi Agu was formally opened on this year's Easter day (Sunday, March 31, 2013), an event that attracted such personalities as Egbuefi Ora Ozomgbachi, the legislator representing the Udi/Ezeagu federal constituency at the House of Representatives; an illustrious son of the town and vice chancellor of Godfrey Okoye University Enugu, Rev. Prof Christian Anieke, and the chairman of the bank, Msgr. Prof Obiora Francis Ike.
The Umumba Ndi Agu community and its environs expressed their happiness and thanked the bank for its formation in the area, which they noted would alleviate their banking problems, especially the unbanked poor dwellers of the community. The bank is however fast extending its operations to other rural areas of Enugu state, such as Oji River, which opens on July 18, 2013, and Ugwogo Nike in the Enugu East local government area and Ozala in the Nkanu West local government area opening about September-October 2013.
In a chat with The Listener, Mrs. Ekete disclosed that UPMFB's inroad into the rural areas was part of its strategy of increasing its clientele level, which she said was expected to hit a minimum increase of 15 per cent by the end of the year. Meanwhile, as yet another way of increasing its customer base, the bank is reducing its interest rates to encourage its clients, especially those engaging in Agriculture.
The bank's managing director said, "The bank is ready to give any interest rate on loans, once the administrative charges are covered. Our interest is negotiable, depending on the area of the economy the client is going into."
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