About U and C MFB

Our Brand is Redefining Microfinance Banking with Digital solutions that transcend boundaries.

Vision

To be a strong and dependable Microfinance Bank that shall stand the test of time through the provision of the best financial services and grow to become a major player in Nigeria financial system.

Mission

To provide microfinance banking services that will make us attain the peak of excellence in the microfinance sub-sector through a blend of information technology and professional competence with a view to fostering an enduring partnership with customers thereby maximizing shareholders wealth.

Core Values

Transparency, Integrity, Commitment, Knowledge.

U & C Micro finance banks Vision is to be a strong and dependable Microfinance Bank that shall stand the test of time through the provision of the best financial services and grow to become a major player in Nigeria financial system.

History

U and C Microfinance Bank Limited started off in 1994, originally as Choba Community Bank (Nig.) Limited by a collection of private investors from Choba community that plays host to the University of Port Harcourt, with the primary objective of bringing banking to the grassroots in Choba and adjoining communities. It was incorporated on 11th April 1996 (RC No. 289238) by the National Board for Community Banks (NBCB), with provisional license No. 0787.

In 1999, the promoters strategically wooed University Port Harcourt to invest in the struggling bank to curb its perennial liquidity crisis. The capital composition eventually result in equity control by University of Port Harcourt. Consequently, the brand name was modified to Choba-Uniport Community Bank (Nig.) Limited (CUCB) in 2001 to reflect the new ownership structure. Following the launch of the Microfinance Banking Policy in 2005, the Bank mandatorily converted to a Unit Microfinance Bank in 2008. Consequently, the brand name was changed again to Uniport & Choba (U & C)Microfinance Bank Limited and up-scaled to State MFB in 2013.

The 2018 Microfinance Banks’ Recapitalisation Initiative of the CBN which raised regulatory capital threshold of State MFBs from ₦200 million to ₦1 billion compelled the Bank to file for downscaling from a State MFB to a Tier-1 Unit MFB in alignment with the new regulatory regime.  In 2022, the Bank obtained approval to relocate its Corporate Head Office from Choba Park Shopping Complex to No. 10 Dan Etete drive, Unipark (Abuja campus)of the University of Port Harcourt.

Due to information technology (IT) exigencies, the Brand name was lately modified from U&C Microfinance Bank Limited to 'U and C Microfinance Bank Limited'.

our bank

STRATEGIC OBJECTIVE

Our goal is to provide simple, flexible, diversified and affordable financial services to the active poor, low income earners, small and medium scale entrepreneurs (SMEs), co-operative societies, market traders, village/town unions, farmers, fishermen, artisans, women groups, informal self help solidarity groups

CORPORATE PERFORMANCE

The performance trajectory of U and C Microfinance Bank over the past sixteen years reflects incredible resilience and stellar financial results from consistent delivery of exceptional microfinance banking services to customers. The Bank’s sterling performance has visibly translated to a positive growth in practically all key performance indicators (KPIs), organic expansion in physical/technological infrastructure and handsome returns to shareholders.

CUSTOMER BASE

Our Customer base comprise of individual and corporate customers. The individual customers are largely economically active poor, low income households, petty traders, students and civil servants. Corporate customers include: small and medium enterprises, limited liability companies, contractors, manufacturing firms

CORPORATE GOVERNANCE

We uphold the highest standards of corporate governance based on our philosophy that public trust and confidence are reposed where banking business is conducted with the best standard of corporate governance which protects the interest of all stakeholders.