O.O.U MFB Will Continue To Wax Stronger - Dr. Salami
The Managing Director Olabisi Onabanjo University Microfinance Bank, Dr. Olalekan Salami has assured the shareholders that the bank would continue to maximise it's potentials towards attaining the desired growth that would yield good dividends to investors.
Responding to questions at a meeting with some members in his Ago-Iwoye office, the resourceful banker with over twenty years of experience, spoke on his efforts towards ensuring that the banks get desired results. Excerpts:
Q: In summary your profile sir?
A: I am a trained banker of over twenty years of experience, I served as the Managing Director Osun State College of Technology Esa-Oke, Microfinance Bank for eight years before my appointment as the Managing Director O.O.U MFB in January, 2024 and since then we have continued to re-engineer the activities of the bank towards meeting up with the expectations of our investors.
Q: From your own point of view, do you think you have been able to upscale the operations of the bank since assumption of office?
A: Since assumption of office, we have been able to increase patronage through effective service delivery, we held lot meetings with our customers to ensure we meet up with their expectations.
We also took step further to train and retrain our staff as regards to modern day banking operations because there is this saying "if you don't train your staff don't blame them and if training is expensive try ignorance" and this mind set has really equipped us to grow the profit margin of the bank by 180 percent.
God on our side we also have a Board of Directors who are very supportive and they have continued to provide the much needed support where necessary. With the corporate governance coming into plan, we have decided to continue to improve the profitability of the bank by meeting up with the expectations of investors.
During our last AGM, we declared 20k per share and also created room for internal growth by retaining some of our profits. With this, the bank has continued to grow its profitability from 11 million to 30 million and we will not rest on our oars.
Q: What are the future prospects of the bank?
A: The institution has four campuses across the state, and we intend to grow our capital base, by establishing a branch in all our campuses, this will give us the privilege to raise the standard of the bank to first grade microfinance Bank.
We are also fully prepared to improve our digital platforms so as to compete on the global scale, enabling our customers to transact businesses at the comfort of their homes.
One of the major focuses of the microfinance bank is to provide financial solutions to small and medium scale business. We will continue to strive towards this direction and reduce poverty in the society.
