Alert MFB Assets Hit N50bn Amid Rising Credit Demand

Alert Microfinance Bank has grown its total assets nearly 20-fold in three years to N50bn, demonstrating how some lenders are capitalising on rising demand for credit despite operating in one of Nigeria’s toughest macroeconomic environments. The lender’s parent group, Alert Group, now boasts total assets of about N120bn, up from a significantly smaller base. This rapid expansion follows the Central Bank of Nigeria granting a national microfinance banking licence to Alert Microfinance Bank earlier this year. Speaking on the growth trajectory, the Group Chief Executive Officer of Alert Group, Olanrewaju Kazeem, said the expansion was a deliberate outcome of a long-term strategy focused on financial inclusion and serving Nigeria’s underbanked population, with an eye on future regional expansion into other African countries.