DLM Capital Gets CBN Nod to Acquire Links Microfinance Bank

By Modupe Gbadeyanka

The Central Bank of Nigeria (CBN) has authorised a prominent development investment bank (DIB), (DLM) Capital to acquire Links Microfinance Bank.

DLM Capital is taking over the small lending financial institution to penetrate the industry and possibly rule and become a major player there.

The company is making efforts to play big in the nation’s financial sector and the acquisition of Links Microfinance Bank will help the firm achieve this goal as it even prepares to launch its digital banking services later this month.

The acquisition of the microfinance bank transitions the full-service investment house as one of the few players in its industry that has expanded into a financial institution providing different types of services that cuts across different socio-economic classes.

DLM Capital comprises subsidiaries in investment banking, trustees, securities trading, FX, digital banking, asset management, nominees and corporate lending.

Commenting on the acquisition of Links Microfinance Bank, the Group CEO/MD of DLM Capital, Mr Sonnie Ayere, remarked that “we sincerely thank the SEC and CBN for consent and final approval respectively of our MFB acquisition.”

“This will help to position us more as a full-fledged financial services institution which will develop and disseminate various financial products and services that will reach millions of Nigerians who are underserved,” he assured.

“We are looking forward to working with all stakeholders, including the CBN and to expand financial inclusion to meet the ever-evolving needs of the average Nigerian,” he stated.

On his part, the MD/CEO, of Links MFB, Mr Funsho Idowu, also said the bank is positioned to carve a niche for itself in the market space, having just joined the unique group of digital banks to create loans, investment opportunities, support job creation and empower MSMEs through unhindered access to its financial services, as clearly spelt out in the bank’s mission statement.”

“This deal, together with our NDIC insurance, will demonstrate to our customers that they can trust us with their financial needs,” he added.