CBN approves DLM Group’s acquisition of Links MfB – Development Investment Bank, DLM Capital, has received the final approval of the Central Bank of Nigeria (CBN) to acquire Links Microfinance Bank (MfB).
This, experts say, will solidify the group’s much-awaited digital banking.
This development also transitions the DLB as one of the few players in its industry that has expanded into a financial institution providing various services.
Group Chief Executive Officer (CEO/Managing Director, DLM Capital Group, Sonnie Ayere, said: “We sincerely thank the SEC and Central Bank of Nigeria (CBN) for the consent and final approval of our MFB acquisition.
This will help to position us more as a full-fledged financial services institution which will develop and disseminate various financial products and services that will reach millions of Nigerians who are underserved. We are looking forward to working with stakeholders, including the CBN, and to expand financial inclusion to meet the ever-evolving needs of the average Nigerian.”
Managing Director/CEO, Links MfB, Funsho Idowu also said the bank is positioned to carve a niche for itself in the market, having joined the unique group of digital banks to create loans, investment opportunities, support job creation and empower MSMEs through access to its financial services, as spelt out in the bank’s mission statement.
“This deal, with our NDIC insurance, will demonstrate to our customers that they can trust us with their financial needs,” he added.
DLM Capital Group comprises subsidiaries in investment banking, trustees, securities trading, forex, digital banking, asset management, nominees, and corporate lending.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Financial Watch. Every investment and trading move involves risk. You should conduct your own research when making a decision.