Women’s bank issues over 350 share certificates

Business

THE Women’s Micro Bank Ltd has issued more than 350 share certificates to its shareholders in the National Capital District (NCD) alone, general manager Gunanidhi Das says.
Das said this was an increase from the 170 given out last month.
“More than 350 share certificates have been issued as of now (July 16) out of 675 shareholders in NCD,” he said.
“We are also planning to give certificates for the other centres probably in the first week of August.
“We will be going to outside centres like Morobe, Madang, Maprik, Wewak, Goroka, Kavieng and also Buka and East New Britain to give share certificates.”
Das said share certificates were for shareholders who had purchased shares with the women’s bank between September 2017 and June last year.
“We are only giving share certificates to those people who purchased their shares (during that period) and are now no longer giving out share offers,” he said.
The women’s bank wanted to give ownership to its founding members and new members. It offered shares for K1 each.
“This was a lifetime opportunity for women who wished to purchase shares with the Women’s Micro Bank and become a shareholder of the bank,” Das said.
Meanwhile, its loan portfolio is almost reaching K5 million with the bank currently giving out loans at rates of as low as 2.5 per cent per month, according to Das.
“Our loan rates are actually very competitive with other micro financial institutions. Our rates are as low as 2.5 per cent per month and at the same time our documentations are very easy,” he said.
“We don’t look for additional documentation to give out informal loans.”

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