The direction was outlined during the bank’s 19th Annual General Meeting held in Lagos, where both board leadership and management highlighted resilience, digital transformation, and customer-focused service delivery as key pillars of its 2025 growth strategy.
Chairman of the Board, Mr. Christian Ruehmer, acknowledged the macroeconomic hurdles of recent years, including the painful reforms of 2023, notably the naira float and removal of fuel subsidies, which disproportionately impacted the bank’s core customer base. Yet, he struck an optimistic tone about the road ahead, citing improved macroeconomic conditions as an opportunity for renewed momentum.
“With the current stability in exchange rates and visible declines in inflation, we believe the hardest part is behind us,” Ruehmer said. “We’re committed to building a stronger 2025 by doubling our efforts, deepening customer satisfaction, and executing a focused transformation strategy.”
Ruehmer encouraged the bank’s leadership to maintain its focus on providing quality service that makes customers feel valued—a critical element for performance and retention in the microfinance segment. He further stressed that consistent management and a customer-centric approach would be essential in sustaining growth.
Managing Director Taiwo Joda echoed that vision, revealing that despite a slower-than-expected 2024 due to a major upgrade of the bank’s core banking systems and digital platforms, performance had picked up significantly.
“In 2024, we ended the year with N100 million in profit before tax. But by the first half of 2025, we’ve already hit N700 million,” Joda said, positioning this performance as evidence of regained traction. “This gives us the confidence to project a year that doubles, even triples, our 2024 numbers.”
Joda explained that while technological upgrades had temporarily disrupted performance in 2024, they were necessary investments in the bank’s long-term competitiveness and scalability—particularly as it expands financial access to underserved populations.
As part of its expansion strategy, the bank has extended its presence to northern states including Kwara, Kano, Kaduna, and the Federal Capital Territory, increasing outreach to underserved communities and bolstering its financial inclusion mandate.
The AGM also saw the re-election of Professor Olayinka David-West to the board, reinforcing governance continuity, while board members’ annual remuneration was revised upwards to ₦56 million—reflecting growing responsibilities as the bank scales its operations.
Looking ahead, Accion Microfinance Bank appears poised to deliver a more impactful 2025, with its leadership confident in its capacity to transform adversity into strength, and customers into long-term partners for inclusive growth.