Vale, a digital bank that delivers innovative financial solutions to both businesses and individuals, has surpassed $4.5 million in transaction value for Q1 2024. This milestone not only underscores its rapid growth as a digital bank in Africa but also reflects the trust and confidence that over 105,000 customers have placed in the bank.
The bank which became fully operational in January 2022, having obtained its license as a finance house from the Central Bank of Nigeria in September 2021, has demonstrated its resolve to be the bank that truly pays its customers. Vale has disbursed over N3.35 billion in loans, transacted over N6.5 billion in value, and grown its Asset under management to N1.5 billion in Q1 2024.
Speaking about this recent milestone, the Chief Executive Officer, Vale, Sola Adeyinka stated, “At Vale, our vision is to be the most preferred digital bank for one million businesses and middle-income individuals by 2030. As such, we have a dedicated team working tirelessly behind the scenes to bring innovative financial products and solutions that help Africans achieve their financial goals. We are grateful to all our customers who have reposed trust in us over the years and continue to grow this business with us. We reiterate our commitment to keep pushing the boundaries of what is possible in the digital banking space.”
Another significant achievement for Vale is the listing of the bank on the Nigerian Inter-Bank Settlement System (NIBSS). This means that all Vale customers have been issued a new Vale Account Number, a NUBAN 10-digit number and Vale has been listed as a receiving bank on every other bank platform. Additionally, the bank is set to announce its latest groundbreaking endeavor within the business space. Through an innovative blend of credit facilities, business advisory services, customised business support and more, Vale’s initiative is primed to unlock unprecedented potential and amplify earnings for businesses globally.
Through its steadfast commitment to innovation and customer-centricity, Vale is poised to further solidify its position as a leading digital bank in Africa. The journey ahead is brimming with opportunity, and the bank is prepared to seize it with enthusiasm, resilience, and a relentless pursuit of excellence.
