Money

Branch processes N40b loans in three years

Branch processes N40b loans in three years

By Collins Nweze

Branch International has processed over N40 billion loans in its last three years of its operation in Nigeria.

The digital banking app with over 20 million downloads across Nigeria, Kenya, Tanzania and India, says it gives 20 per cent yearly investment returns to investors.

Borrowers, through the digital platform, can also have access instant loans. This has deepened the company ‘s commitment to driving financial inclusion in Nigeria.

Speaking during a virtual media roundtable in Lagos, Managing Director, Branch Nigeria, Adedayo Ademola, said the tech firm is leveraging technology to offer a range of unique financial services to customers.

According to him, the quest to make financial services accessible at an affordable rate to individuals and businesses is critical in boosting development.

Thus, their unique range of offerings are designed to give value to customers while enabling them make payments and granting access to loans and investment opportunities.

Continuing, Ademola said: “At Branch, it is our commitment to keep up with our objective of leading the way in digital banking, to improve the financial well-being of Nigerians, unlock the greater potential within the financial services sector and promote seamless banking across the country. Our approach as a mobile-only digital bank is deeply rooted in our prioritising the convenience, satisfaction and safety of our customers”.

“With Branch’s suite of unique products, we are consistently pushing the envelope by offering customers valuable services beyond the conventional banking needs thereby making a meaningful impact on their lives. It remains perfectly poised to take on the challenge of providing access to affordable financial services for all,” Dayo added.

These product features include free and unlimited money transfers, free bills payment and airtime purchase, 20 per cent annual investment returns (one of the highest in Nigeria) without any withdrawal restrictions – investments made through the Branch app are channelled into low-risk financial instruments with capital preservation as the ultimate goal, and instant loans up to N500,000 in minutes with no paperwork or collaterals required and no late charges.

Branch is founded by Kiva.org founders, a Non-Governmental Organisation (NGO), which has raised over US$1.5 billion in zero per cent interest capital for global financial inclusion. For this, the founders have received global media recognition and several awards including being listed in Fortune 40 Under 40.

With support from world-class investors such as VISA, IFC and Andreessen Horowitz, Branch continues to deliver superior customer value.


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