LEADING developmental investment bank, DLM Capital Group, on Wednesday announced its plans to expand into Nigeria’s million-dollar fintech sector, following its acquisition of Links Microfinance Bank.
The license will give DLM Capital Group the mandate to operate small scale banking services in the country.
This will also allow the successive launch of its star digital lending brand, Sofri, in the second quarter of the year.
The acquisition, combined with the bank’s many fintech efforts already underway, will position it to deliver even more value for corporates and consumers.
DLM Capital Group’s acquisition of Links MFB represents both an entry into new businesses and complementary enhancements to the institution’s existing subsidiaries.
First, this prospect opens new market opportunities for the bank on the African continent and secondly, the acquisition will enable the institution to exit its ‘legacy bank’ visibility and work more closely with the fintech community to build a ‘challenger bank’ brand that proffers innovative technological solutions for the Nigerian market.
Speaking on the acquisition, Corporate Communications Manager at DLM Capital Group, Chinwendu Ohakpougwu, said: “We are particularly excited about our acquisition of Links MFB and how it enhances the growth trajectory of our business.
“This highly strategic acquisition represents another significant milestone for us on our journey as a resilient and well-capitalised financial institution with advanced scale and capacity to deliver sustainable and best-in-class financial services within the Nigerian market.
“We are confident that this decade will be bullish for Nigeria’s tech space and are ready to work with the fintech community in strengthening the solutions necessary to meet consumer needs.”
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