NPF Microfinance Bank Plc 2016 Financial Summary

Legal Form

The Bank was incorporated in Nigeria as a Private Limited Liability Company on 19 May 1993 under the provision of the Companies and Allied Matters Act CAP C20 LFN 2004 with RC No. 220824. It obtained a provisional license as a community bank from the Central Bank of Nigeria on 12 July 1993 with License No. FC 00200 and commenced operations on 20 August 1993. It obtained its final license from the Central Bank of Nigeria on 24 January 2002. It was registered as a public limited company on 13 July 2006. The Bank was given approval-in-principle as a Microfinance Bank on 10 May 2007 and obtained the final license on 4 December 2007. The shares of the Bank became listed on the Nigerian Stock Exchange on 1 December 2010. 

Principal Activities 

The principal activity of the Bank is the provision of banking and other permissible financial services to poor and low income households and micro enterprises with emphasis on members of the Nigerian Police Community. Such services include retail banking, loans and advances and other allied services. The Bank currently has 28 branches nationwide from which it operates. 

Major Shareholders

Nigeria Police Co-operative Society  Limited  64.75%

NPF Welfare Insurance Scheme                     10.25%

12 Months Report NPF MICROFINACE BANK PLC
	2016 N'000	2015 N'000	change	Year End
Revenue	2,925,229	2,592,694	13%	December
Profit/Loss before taxation	803,440	688,899	17%
Profit/Loss for the period	554,903	514,598	8%
Issued Shares (Units)	2,286,657,766	2,286,657,766
Basic Earnings Per Shares (Kobo)	24.00	23.00	4%
Last total dividend paid (Kobo)	15.00	15.00	0%

Quarter on Quarter performance

Revenue                                                                   PAT

N'000                                                                       N'000

Q1: #635,280                                                      Q1: #180,304

Q2: #725,234                                                      Q2: #274,174

Q3: #738,755                                                      Q3: #232,562

Q4: #825,960                                                      Q4: (#132,137)

NPF since coming into the Market had remain consistent and had been growing its EPS gradually annually. The company made an average of N731million in terms of Gross Revenue and N138,million in terms of PAT. A closer look at the results does not show major spikes except for personnel and  administrative expenses that increased by 3.04% and 45.55% respectively.

The shareholding pattern of the Company is also a rallying point because the two major shareholders with 75% holding held it for strategic reason.

It amazes me that out of the N94billion Non Performing Loan in that Sector the NPF seems not to feature. My conclusion nobody want police wahala.

Details of the corporation action would be provided later.

The Stock closed at N1.21k on 30th March 2017 with a dividend yield of 12.40% a good yield for the Market.