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Banking and Finance

Priam Group Banking and Finance
Standard Microfiance Bank (SMFB)

Standard Microfinance Bank (SMFB) started operations in Adamawa State (Northern Nigeria) in November 1992 as a community bank. SMFB aims to make participatory banking facilities available to low-class individuals. The bank has several commercial and micro bankers on its board in addition to community leaders and renowned academics. It was granted a Microfinance Banking License by the Central Bank of Nigeria in May 2005.

Since inception, SMFB has continued to promote rural development by providing financial and banking services to the less privileged. In 2012, the MFI received a grant from ACP/EU Microfinance for its action to improve the living conditions of the inhabitants of Adamawa, through enhanced access to finance.

SMFB's financial inclusion project is based on expanding outreach of the MFI, with a strong focus on financial education, the launch of adapted savings products and awareness-raising activities focused towards women.