The name of the Bank is Abia State University Microfinance Bank LTD, located at the Abia State University, Afikpo Road, Uturu.
The bank was given Provisional License of 31st May, 1995 and was admitted into the Community Banking System in Nigeria by the National Board for Community Banks on 4th July, 1996. The bank was incorporated under the Companies and Allied Matters Act 1990 as a Private Limited Liability Company on 3rd September, 1996 it commenced operation on 10th October, 1996. The bank was granted final license by the Central Bank of Nigeria on 24th January, 2002 as a community bank. The bank was converted to Microfinance Bank on 3rd September, 2007, and the Central Bank of Nigeria (CBN) approved the grant of Microfinance Bank License on 18th July, 2008 to the bank.
The authorized Share Capital of the bank is Two Hundred Million Naira (N200, 000,000.00) with paid up capital of N57, 074,051.00. The principal activities of the bank are the provision of microfinance banking services. The number of employees of the bank is 44 with customer base of over 7,336.