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  #1 (permalink)  
Old 13th February 2014, 08:17 AM
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Default Fortis mfb

Fortis MFB Secures N1.1bn Facility for FMO, Articles | THISDAY LIVE
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Old 17th August 2015, 06:38 PM
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Default Re: Fortis mfb

FORTISMFB declares N234.23 million PAT in Q2'15 Result,(SP:N5.42k) - Proshare
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Old 26th August 2015, 03:09 AM
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Default Re: Fortis mfb

CBN grants national banking licence to Fortis MFB
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Old 26th August 2015, 12:49 PM
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Default Re: Fortis mfb

Quote:
Originally Posted by Salida View Post

I had my eyes on this one following the latest results......but with this news, I will have to change my mind asap
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Old 26th August 2015, 01:24 PM
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Default Re: Fortis mfb

Quote:
Originally Posted by oyo View Post
I had my eyes on this one following the latest results......but with this news, I will have to change my mind asap
Why?. Is National license not good?.
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Old 26th August 2015, 03:36 PM
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Default Re: Fortis mfb

Quote:
Originally Posted by oyo View Post
I had my eyes on this one following the latest results......but with this news, I will have to change my mind asap
Quote:
Meanwhile, at the meeting, shareholders of the bank gave approval to the proposal of the board to raise additional capital through private placement from the issuance of 656,666,668 units of ordinary shares at N1.50k per shAre
My oga, it's very cheap o, grab your copy
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Old 26th August 2015, 07:07 PM
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Default Re: Fortis mfb

Quote:
Originally Posted by migiets View Post
Why?. Is National license not good?.

For micro finance banks, IMO, being small is beautiful, especially in this our obodo Nigeria
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Old 26th August 2015, 07:11 PM
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Default Re: Fortis mfb

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Originally Posted by hispy99 View Post
My oga, it's very cheap o, grab your copy


Please, wire some greenback units into my account gratis
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Old 27th August 2015, 09:46 AM
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Default Re: Fortis mfb

Quote:
Originally Posted by oyo View Post
For micro finance banks, IMO, being small is beautiful, especially in this our obodo Nigeria
Being small is beautiful but you cannot be small forever. There are those that are ambitious and want to spread especially after accumulating a huge shareholder funds. Capital base of a unit MFB is 20m. If you have accumulated a huge shareholder funds, why remain a unit MFB. Moreover, some of them want to provide electronic banking for their customers.
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Old 27th August 2015, 12:28 PM
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Default Re: Fortis mfb

Quote:
Originally Posted by migiets View Post
Being small is beautiful but you cannot be small forever. There are those that are ambitious and want to spread especially after accumulating a huge shareholder funds. Capital base of a unit MFB is 20m. If you have accumulated a huge shareholder funds, why remain a unit MFB. Moreover, some of them want to provide electronic banking for their customers.

They got a licence to be a national micro-finance bank, I think....please correct me if I am wrong.

In that case, dealing person-person basis which is the advantage the micro banks have over commercial banks might be unwieldy. Besides the larger they become, the more the running costs as well as bigger provisioning for impairments. Just my kobo opinion.
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Old 27th August 2015, 12:50 PM
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Default Re: Fortis mfb

Quote:
Originally Posted by oyo View Post
They got a licence to be a national micro-finance bank, I think....please correct me if I am wrong.

In that case, dealing person-person basis which is the advantage the micro banks have over commercial banks might be unwieldy. Besides the larger they become, the more the running costs as well as bigger provisioning for impairments. Just my kobo opinion.
Yes. They got a National license which now enables them to operate in all states of the Federation. They started out as a unit MFB in Abuja. They grew and became a State MFB with branches only in Abuja. They have now outgrown only Abuja status. There is no point in opening hundreds of branches in Abuja alone.

The running costs can only be much if they decide to be flamboyant and extravagant. You do not for instance expect to see a branch of an MFB in Ikoyi. If you see a branch in such a place, flee from that MFB. Their branches are usually located in markets or very close to markets. Just a small building is enough.

Btw, some MFBs are already by-passing this State and National license issue. Some of them just decide to finalise it in order to tap into some eCommerce benefits.
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Old 20th October 2015, 06:39 PM
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Default Re: Fortis mfb

FORTISMFB declares N365.85 million PAT in Q3'15 Result,(SP:N5.42k) - Proshare
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Old 21st October 2015, 06:53 AM
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Default Re: Fortis mfb

FORTIS MICROFINANCE BANK PLC

STATEMENT OF COMPREHENSIVE INCOME FOR THE PERIOD ENDED 30TH SEPTEMBER, 2015.

http://www.nse.com.ng/Financial_News...TOBER_2015.pdf
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Old 25th September 2017, 05:27 PM
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Default Re: Fortis mfb

Quote:
Originally Posted by Salida View Post
CBN grants national banking licence to Fortis MFB[/url]
Very interesting read. Thanks for sharing Salida.
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