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Wednesday,
February 12, 2020 / 10:00 AM / By Arthur Stevens Asset Mgt / Header Image Credit: lapo-nigeria.org
The issue of up to N6billion series 2 bond (the "Transaction" or the "Issuance") under the LAPO MFB SPV PLC N20billion Bond Issuance Programme is now open.
The Sponsor, LAPO Microfinance Bank Ltd. ("LAPO MfB" or the "Bank") is the premier microfinance institution in Nigeria with
operations dated back to 2007 and has consistently delivered on the true tenets
of microfinance banking by providing financial services to the low income
earners and hitherto financially excluded category while also standing out for
the following attributes;
Dominant Market Leadership: LAPO MfB is a leading microfinance bank in Nigeria
accounting for up to 27% of the market share. As at December 2018, it had the
largest total asset and deposit representing 17% and 15% respectively of the
total industry size
Strong Financial Performance: Despite macroeconomic headwinds in recent years,
it has remained solid in top and bottom-line figures. Its loan assets have also
witnessed year-on-year growth, with total assets in the realm of N73billion
Sound Management and Corporate Governance: The board is composed of Directors
with sound backgrounds in banking and have entrenched sustainable governance
and risk management practices
Extensive Branch Footprints and Solid Growth Prospects: The Bank has up to 495
branch networks spread across the 34 states of the Federation with a
significant growth opportunity to continue to serve the financially excluded
Robust ESG Policies: The Bank displays a committed posture to Environmental,
Social and Governance initiatives which are in line with international
practices. It has a dedicated ESG Board Committee and Sustainability team which
drives lending to provide Clean Energy Lending, Paperless Banking,
Environmental & Social Management Systems ("ESMS") as well as Occupational
Health & Safety.
Please see below a summary of the indicative terms of
the offer.
For further information; kindly send a request via info@arthursteven.com
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