DBN Disburses N482bn To MSMEs

Written by on April 27, 2022

The Development Bank of Nigeria Plc (DBN), said it has disbursed N482 billion to Micro, Small, and Medium Scale Enterprises in Nigeria since inception.

The bank said 65 per cent of the MSMEs were women and youth-owned businesses.

While presenting the summary of the financial statement for the year ended 31 December 2021, to the shareholders, the DBN managing director/CEO Mr. Tony Okpanachi informed stakeholders that the fundamentals of the bank’s financials are robust, according to a statement issued yesterday.

Total gross earnings closed at N38.18 billion, Profit Before Tax (PBT) at N22.76 billion representing, an increase of 25 percent from the previous year.  Total Assets also increased by 1.4 per cent from N492.3 billion in 2020 to N499.2 billion in 2021.

Okpanachi attributed the bank’s financial performance to “its robust corporate governance framework, business model as well as its top-notch enterprise risk management coupled with highly committed board of directors, management and Staff.  This is something that I am very proud of.

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