DLM Capital Group, an investment bank, has acquired Links Microfinance Bank as part of plans to expand into the country’s fintech sector.
The Corporate Communications Manager of DLM Capital Group, Ms Chinwendu Ohakpougwu, said this in a statement on Wednesday in Lagos.
According to Ohakpougwu, with the acquisition, DLM Capital Group now has the mandate to operate small-scale banking services in Nigeria, using cutting-edge technology.
“The acquisition, combined with the bank’s many fintech efforts already underway, will position them to deliver even more value for corporates and consumers,” she said.
Ohakpougwu said the group’s acquisition of Links MFB represents both an entry into new businesses and complementary enhancements to the institution’s existing subsidiaries.
According to her, this prospect opens new market opportunities for the bank on the African continent.
“The acquisition will enable the institution to exit its ‘legacy bank’ visibility and work more closely with the fintech community to build a ‘challenger bank’ brand that proffers innovative technological solutions for the Nigerian market.
“We are particularly excited about our acquisition of Links MFB and how it enhances the growth trajectory of our business.
“This acquisition represents another significant milestone for us as a resilient and well-capitalised financial institution with capacity to deliver sustainable financial services within the Nigerian market.
“We are confident that this decade will be bullish for Nigeria’s tech space and are ready to work with the fintech community in strengthening the solutions necessary to meet consumer needs,” Ohakpougwu said.
DLM Capital Group is an investment bank with subsidiaries in corporate finance advisory, trustee, asset management, and securities trading as well as private and non-private corporations.
The bank funds sectors of the Nigerian economy using, securitisation and other structured finance techniques.