About Us

I would like to wish a very happy New Year to all stakeholders of Brooks Microfinance Bank and the general public. I am so grateful to God for keeping us all alive to see the new year, 2024. The year 2023 was a turbulent year. Our Nation passed through Economic, Political and Social upheavals that jostled every sector including the Finance Industry where we are operating. It was a year where a lot of Nigerians lost hope in our economy and left the country in droves in search of greener pasture. This left in its wake the brain- drain syndrome which made the recruitment of experienced staff a bit difficult.
The year 2023 was also marked by  spiral inflation that affected immensely the prices of goods and services thus, weakening the propensity to save. However, it is heartening to say that despite these negative narratives our bank’s Financials were outstanding. Our profit level was good and all our Ratios showed positive trend. I commend the Board and the Management Team for good corporate governance and good management skills respectively. Without being pessimistic, I would like to opine, with the help of hindsight, that at least, in the short run not much will change in our economic and financial system in the year 2024. We will therefore be proactive from day one in the way we approach our business. More emphasis will be laid on Staff Training to ensure that both new and old staff members acquire the necessary knowledge and skills required to manoeuvre the challenging business environment that the times present. We will also enhance our staff welfare such that staff attrition is reduced to the bearest minimum. The bank is also going to strengthen our Product Development Unit to churn out products that will match the changing economic and financial environment. We will pursue robust marketing strategies. Already, we are acquiring lots of POS to enhance our marketing results. Brooks Microfinance Bank is a forward looking bank. To us, customer satisfaction is a sine qua non. It is therefore our plan to enter into full E-banking operations before the end of the first quarter of this year 2024. The process of onboarding with NIBSS is almost concluded. We project a rise in profitability, sound Asset Ratio and proven stability in all ramifications. I thank you all.


About Us

Brooks Microfinance Bank

Licensed in January 2008

Brooks Microfinance Bank is duly licensed by CBN to carry out microfinance business, and we have operated in Uyo for over 15 years and stood the test of time. Our Stability and other Performance measuring Ratios have been impressive over time and public confidence over our bank has been growing by the day. Over time, the bank has been blessed with formidable Board membership, constituting men and women of high integrity and repute, tested professionals and high flyers in their various fields of endeavour. Our obsession in bringing people out of poverty is a critical mass and a driving force for our bank.


Adding value to people and making dreams become real


To operate a sustainable microfinance bank of choice, with high outreach, committed to superior customer services, consistently creating value for all stakeholders through innovative, leading-edge products, delivered by a high quality work force, utilising the best in modern technology.

Our Core Guiding Principles

The following principles describe the core values underlying our planned programming and provide the foundation for future programming. They act as guides to direct our thinking on microfinance business. These include:

First, we at all times strive to undertake Socially Responsible Investment that integrates our financial objectives with the commitment to social concerns such as social justice, economic development, peace and/or a healthy environment into the investment decision-making process.

Second, and as part of our goal of advancing social and economic justice, we shape our services so as to Serve the Poorest Clients in all the communities we operate. Women (particularly widows and girl orphans) will up the majority of our target clients, as they generally have the least means to support themselves, the least access to credit, but the highest loan repayment rate.

Third, we believe that Poor people need a variety of financial services, not just loans. As such, like everyone else, the poor need a range of financial services that are consistent, convenient, flexible, and affordable. Depending on circumstances, they want not only loans, but also savings, insurance, and cash transfer services.

Fourth, we believe that Microcredit is not always the answer; as such, it is not always the best tool for everyone or every situation. For instance, destitute and hungry people with no income or means of repayment need other kinds of support before they can make good use of loans. In many cases, other tools will alleviate poverty better—for example, small grants, employment and training programs, or infrastructure improvements. Where possible, such services would be coupled with building savings.

Fifth, because credit and savings are both important means to finance the growth of economic activities in the rural communities, we will try to always Link Loans to Savingsby connecting the amount lent to the amount saved to help our target clients earn more, build their assets, and cushion themselves against external shocks as they borrow.

Sixth, we Use Solidarity Guarantees as a means to secure loan repayment. Solidarity guarantees will act as social collaterals and link new loans to the repayment of old loans. A group of clients’ guarantees the loans of fellow group members with the understanding that no one in the group will receive a new loan until all loans are repaid.

Seventh, we Practice Participatory Management in all our interventions as one of the key processes for empowering the poorest in a community. Clients will be directly involved in the design, management and administration of the services they receive, from creating by-laws to voting on loan applications to choosing repayment schedules. In this way, we include those most affected by decisions in the decision-making process.

Eighth, we Invest in Scale and Self-sufficiency, as achieving scale advances our mission to serve the poor. We will achieve self-sufficiency through efficient operations and by charging market rates of interest to cover our costs. We believe that cost recovery is not an end in itself; rather, it is the only way to reach scale and impact beyond the limited levels that donors can fund. Achieving sustainability means lowering transaction costs, offering services that are more useful to the target clients, and finding new ways to reach more of the unbanked poor.

Ninth, we continually Plan for permanence. Prior to launching a new program, we plan how the program will evolve into a sustainable resource for the poor. Permanence includes creating a formal specialised microfinance institution, helping our clients transform into larger organizations or consolidating our pilot activities and integrating them into larger local entities.