OIBM is a commercial microfinance bank which targets the economically active but marginalized Malawians living in underserved areas including semi urban and rural areas.
ADDRESS: P/Bag A71, Lilongwe
PHYSICAL LOCATION: Kamuzu Procession Road , Plot nos 4/046-048, Lilongwe City .
CONTACT PERSON: Aleksandr Alain Kalanda
POSITION: Chief Executive Officer
PRODUCTS AND SERVICES OFFERED
Opportunity Bank offers a wide variety of products and services to meet the needs of the poor, marginalized Malawians and rural communities. It is flexible in its product development by listening to clients’ needs.
PRODUCT TYPE |
NAME OF PRODUCT/SERVICE |
Savings Products
|
· Ordinary Savings Accounts · Kasupe Accounts · Business Accounts · Club/Association account · Mthandizi Account with Funeral Insurance benefit · Premium Investment Account · Fixed Deposit · Save Plan · Tsogolo Langa |
Treasury Facilities |
· Money market deposits |
Business Loans
|
· Group Loan – Maziko · Individual Micro Credit (IMC) Loan – Mzati · Small and Medium Enterprises (SME) Loans · Tiphunzire – Financing of Private Schools · Payroll loan · Mphamvu loan |
Agriculture Loan |
· Seasonal facility for the agriculture value chain in crop/livestock production, processing, distribution, marketing and other ancillary services to agriculture |
Foreign Exchange
|
· Foreign Currency Denominated Account (FCDA) · Foreign Currency Transfers/ Drafts · Foreign Currency Notes |
Insurance Products
|
· Credit Life Insurance · Weather Index Insurance · Mthunzi insurance |
Alternative Delivery channels |
· ATM · Banki M’khonde (Agency banking) · Banki M’manja (Mobile phone banking)
|
OPERATIONAL AREAS
North: Chitipa, Karonga, Livingstonia, Mzuzu, Luwinga, Nkhata Bay , Jenda
Central: Kasungu, Mponela, Salima, Area 25, Kanengo, Lilongwe , Area 23, Malangalanga, Mitundu, Mchinji
South: Limbe, Blantyre Market, Neno, Fatima , Lujeri Tea Estate
Mobile Van docking points: Rumphi, Mzimba, Ntchisi, Dwangwa, Dedza, Zalewa, Mulanje, Thyolo, Zomba, Chiradzulu
TARGET GROUP: poor, economically active and marginalized Malawians
NUMBER OF ACTIVE CLIENTS: 279,000
NUMBER OF ACTIVE BORROWERS : 47,500
VALUE OF DEPOSITS OUTSTANDING: MK5,483,577,000
VALUE OF LOANS OUTSTANDING: MK4, 120,000,000
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