DLM Capital Group, a developmental investment bank on Wednesday said it planned to expand its operations into the fintech sector following its acquisition of Links Microfinance Bank.
During a virtual event, it said the licence would give DLM Capital Group the mandate to operate small scale banking services in Nigeria.
This would also allow the successive launch of its digital lending brand, Sofri, in the second quarter of the year, it stated.
Corporate Communications Manager, DLM Capital Group, Chinwendu Ohakpougwu, said, “We are particularly excited about our acquisition of Links MFB and how it enhances the growth trajectory of our business.
“This highly strategic acquisition represents another significant milestone for us on our journey as a resilient and well-capitalised financial institution with advanced scale and capacity to deliver sustainable and best-in-class 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.”
The group stated that the acquisition, combined with the bank’s fintech efforts already underway, would position it to deliver even more value for corporates and consumers.
It stated, “DLM Capital Group’s acquisition of Links MFB represents both an entry into new businesses and complementary enhancements to the institution’s existing subsidiaries.
