KING Solomon Microfinance Bank has renewed its commitment and support to the active poor who have good business initiatives, but lack the financial capacity to implement it.
This was disclosed by Mr Ugo Umeseaka, general manager, KSF MFB while speaking with BusinessWorld recently in Surulere, Lagos.
He stated that his bank would provide financial solutions that will transform and develop individuals financially, so that they can take care of their social and financial needs.                                                          
He reiterated his firm determination to provide a basket of financial products and services that meets the needs of its diverse customer base.                                                                                                                                
Umeseaka added that his institution is aware of the fact that, for microfinance to be an effective tool for poverty reduction, enterprise development and economic growth, microfinance institutions must necessarily meet interrelated financial and social goals, as well as managing a double bottom line where strong financial performance facilitates the fulfilment of the social mission.                                                                                                        
This, he said, KSF MFB has put into consideration, as it embarks on the business of impacting lives. The GM expressed the firm’s determination to impact lives and reach out to the poorest of the poor.                                                                                                                            
He disclosed that the customer base of the bank is 2,000, saying the number would double before the year runs out. He pledged his bank determination to reduce the incidence of the many faces of poverty to effectively reach out to the target clientele.
The GM equally stressed that it would imbibe a different approach in its operation to ensure that micro loans are available to those that can make use of it to better their lives.
While reiterating the bank’s commitment to increase and support informal businesses by financing bankable ideas and strengthening small and medium companies, he also said that his firm will carry out training programmes for both the active and the non active poor in order to contribute their quota to societal growth and development.