Managing Director of a micro credit bank in Ilorin emirate, KCMB microfinance bank, Mr. Abayomi Ajayi, has said the institution is committed to eradicating poverty through investing in rural farmers.

Speaking with journalists in Ilorin at the weekend, Mr. Ajayi said that the financial institution had disbursed over N60 million to entrepreneurs in agro-allied industry in the 16 local government areas of the state.

He also said that over N3 billion had been disbursed as loans to about 15,000 customers since inception in 2009.

Also speaking, the chairman, Board of Directors of the microfinance bank who is also the state Commissioner for Finance, Alhaji Nurudeen Banu, said the bank has increased its customer base from 11,000 to 13,462, representing a 22 per cent growth with significant improvement in other parameters.

According to him, the bank stat's deposits has increased from N74.3 million to N91.1 million representing an increase of 23 per cent,while the Gross Earning grew by 18.3 per cent from N86.2 million to N102 million.

Banu explained that Profit Before Tax grew from N19.4 million in 2012 to N30.9 million in 2013,said while Profit After Tax grew from N19.2 million to N29.5 million in 2013 financial.

Expressing the bank readiness to pay dividend to shareholders this year, the Chairman called on people of Kwara both home and abroad to partner with the bank towards eradicating unemployment in the state.

Some customers of the bank, who spoke at the programme, commended the management and staff of the bank for excellent performance, saying that different loan schemes rendered had put smile on their faces.

A customer, Mr. Isaiah Jacob stressed significance of microfinance bank to the growth and development of the nation, saying that Small and Medium Scale Enterprises had quicker access to loan compare to bigger banks.

Hajia Kudirat Suleiman said that the bank had contributed immensely to the economic development of the state, adding that the bank has contributed to the growth of her business.