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MSMEs : BoI bags best Development Bank Award


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BoI bags best Development Bank Award

By Oluwafunke Ishola

The Bank of Industry (BoI) has been conferred with the best Development Bank Award by the International Bankers Magazine in recognition of its financial support to the nation’s entrepreneurs.

Mr Olukayode Pitan, Managing Director of BoI, in a statement on Tuesday in Lagos, said that the award was presented to the Bank at the London Stock Exchange.

The International Bankers Awards is established to recognise top-ranking individuals and organisations setting new benchmarks for performance and pushing the boundaries within the global financial industry.

Pitan said that the award acknowledged the bank’s relentless drive to widen the spectrum of financial support to the nation’s entrepreneurs, especially the Micro, Small and Medium Enterprises and players in the creative industry.

The bank’s managing director thanked the organisers of the award, assuring that the bank would not relent on its efforts to boost Nigeria’s real sector through an increased support to the MSMEs.

He said that the bank had realised over $100 million profit within the ongoing financial year.

Pitan restated the bank’s commitment to financial prudence, while expressing its determination to raise more funds to support more ventures with potential and generate employment opportunities for the youths.

The News Agency of Nigeria (NAN) recalls that Pitan on assumption of office in 2017, had hinted on plans to raise $500 million from the international market.

According to industry players, the award will boost the bank’s efforts to raise funds from the international market to finance its various intervention programmes in the nation’s real sector, especially the fast growing creative industry. (NAN)

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