The NPF Microfinance Bank, which provides micro-credit primarily to serving and retired policemen and other Nigerians, will pay 20 per cent more in annual dividends following a moderate increase in net profit for last year compared to 2022.
That takes its potential total dividend payout for 2023 to N719.2 million, compared to the almost N600 million paid in 2022.
The microlender hit its peak profit level last year when it reached thirty years of operation as the interest it earned after settling the costs on borrowed funds surged by 51.1 per cent.
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