Home Business Hinache MFB retains directors, declares 15k dividend

Hinache MFB retains directors, declares 15k dividend


Malumfashi  – The Hinache Microfinance Bank, Malumfashi in Katsina State, has retained its six directors and declared 15k dividends per share to its shareholders.

Malam Aminu Aminu, the Managing Director of the bank, who disclosed this in a statement on Monday, said that the decisions were reached at the bank’s Annual General Meeting for the 2015 financial year, held in Malunfashi.

He said that the bank would, in 2016 financial year, place emphasis on more corporate social responsibility service to community.

According to the statement, the shareholders unanimously endorsed the directors for another term of two years.

The banks financial statement indicated that it posted N104.7million gross income in 2015 against N81.1 million posted in 2014 financial year, showing a N23.6 million increase.

The managing director explained that the audit, conducted by a competent firm, Sada Idris & Co., indicated that the bank recorded healthy growth.

“The Hinache Micro-finance bank is listed among 50 excellent micro-finance institutions in the country,’’ he stated.

“The bank is among the best performing micro-finance in North Western Nigeria, with assets worth N130 million.

“It began operations in 1992 with about N250, 000.

“The bank declared 15k dividend per share,’’ the managing director stated.

As part of its corporate social responsibility, the bank distributed relief materials to many victims affected by flood disaster in Malumfashi and environs in 2015.

It also donated drugs to Malumfashi and Kafur General Hospitals.

Other social responsibility aimed at giving back to the community by the bank included provision of mattresses and bedding at the Primary Healthcare Centre in Malumfashi.

The directors retained by the shareholders are Abdu Halliru as Chairman, Abdulrazaq Abdulwahab, Saminu Dalhatu, Suleiman Halliru, Nasiru Mu’azu, Yakubu Jibril, and Aminu Aminu, the managing director.(NAN)

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