Home Business DBN disburses N631b to MSMEs, unfreezes dividend payment
DBN disburses N631b to MSMEs, unfreezes dividend payment
The Development Bank of Nigeria (DBN) has disbursed over N 631 billion in loans to Micro, Small and Medium Enterprises (MSMEs) in Nigeria, according to the bank’s 2022 Financial Report.
This represents a growth of 31% from the previous year, with more than 313,000 MSMEs benefiting from the loans. The bank achieved earnings of N47.6 billion and a Profit Before Tax of N29.5 billion, with trade and commerce accounting for 52.8% of the total loan portfolio by sector.
The bank remains focused on financial sustainability and providing critical financing to the MSME sector in the year ahead, while exploring new partnerships to drive economic growth and development.
The bank declared a dividend of N3.418 billion, representing 25% of retained earnings, with shareholders receiving N34.18 per share.
source; Vanguard
https://www.vanguardngr.com/2023/04/dbn-disburses-n631-b-to-msmes-unfreezes-dividend-payment/
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