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…reveals profit before tax of N173m, N11bn loan size
Digitvant, a Nigerian-based Microfinance Bank has assured a seamless access to credit for individuals and businesses at the grassroot level.
According to Digitvant, this aims to bridge financial inclusion gaps in Nigeia with focus on boosting the country’s economy.
Kayode Oluwagboye, chairman, board of directors of Digitvant while speaking at the official introduction of Digitvant said, “I consider this as the beginning of a journey we believe will transform the financial lives of millions across Nigeria, directly and indirectly, starting from the informal markets, to emerging entrepreneurs, and those who might not be considered ‘attractive prospects’ by traditional banking structures”.
“At Digitvant, we have not only opened our doors to the public; we have opened opportunities, pathways, and access points to dignity, growth, and financial inclusion for Nigerians.
According to Oluwagboye, the bank is expected to meet the people where they are including daily hustles, in the rhythm of market life and in the aspirations of micro and small business owners.
“This is all bank that would speak the language of simplicity, accessibility, and trust. We are leveraging digital tools not for elitism, but for empowerment. We are a bank people could call their own.
“At the heart of our operations is Market Monie whose impact has extended beyond the financial lifeline we have given to over 50,000 businesses, but the dignity that is integral in our service. We believe that yes, we run a business, yes, we shall make profit, but not at the expense of the dignity and self esteem of our customers and this is one of the things that stand us out,” he said.
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Also speaking, Florence Ogunyamoju, Managing Director, DigitVant stated that the bank is launched to bridge access to financial gaps, building a people-first, community-driven, and technology-enabled financial ecosystem that reflects the realities of the Nigerian people.
While citing reports, Ogunyamoju noted that Nigeria’s informal sector contributes nearly 48 percent of GDP and employs 84 percent of the workforce.
“Yet, the majority remain outside the formal financial system—relying heavily on cash and unstructured savings. At Digitvant, we blend the agility of fintech with the empathy of microfinance. Our solutions are not just digital—they are deeply human,” she said.
“We remove traditional obstacles such as collateral and cumbersome paperwork. Instead, through our network of community agents, we have empowered over 50,000 entrepreneurs to grow their businesses and secure their livelihoods.
At the heart of our operations is Market Monie, a tailored loan product designed to address the working capital needs of small and medium-sized businesses. It is flexible, easy to access, and reflects the unique rhythm of informal sector enterprises,” she added.
Meanwhile, the bank which has been licensed by the CBN and secured by Nigeria Deposit Insurance Corporation (NDIC) has recorded a profit before tax of N173 million, with a loan size of N11 billion as at June ending.
“Every month we send our returns to CBN, we have N11 billlion loan size till date and our profit before tax is N173 million as at June ending representing our half year (H1) profit,” the managing director added.
The company however urged lenders especially microfinance banks to prioritise due diligence and make sure the level of their knowledge of the customer is well documented before loans are given to avoid loan recovery failure which poses big threat to lending companies.
