Nomba, a Nigerian fintech firm, and Globus Bank have declared a sub-1 per cent non-performing loan (NPL) ratio on a N21.3 billion credit portfolio, signalling a shift from volume-driven lending to performance-based credit delivery in the country.
The companies disclosed this in a joint statement, noting that the facility, deployed across key sectors of the economy, is underpinned by a data-driven underwriting model that prioritises repayment performance over disbursement size.
According to the statement, the credit portfolio spans wholesale and retail (39 per cent), professional services (28 per cent), food and hospitality (11 per cent), oil and gas (11 per cent), and fast-moving consumer goods (8 per cent).
The firms said the result stands in contrast to prevailing industry benchmarks, where NPL ratios for business lending often exceed 5 to 10 per cent.
Elias Igbinakenzua, the managing director/chief executive officer of Globus Bank, said the partnership reflects a shift towards disciplined, infrastructure-led lending.
“What distinguishes this facility is not its size but the quality of the underlying credit decisions. The NPL performance of this portfolio is clear evidence of what can be achieved when capital is deployed based on verified transaction data,” he said.
Also speaking, Yinka Adewale, the chief executive officer of Nomba, said the company is focused on redefining the credit narrative in Nigeria.
“The Nigerian credit conversation has been driven by how much has been disbursed. We believe the more important question is how much has been repaid and why. Our sub-1 per cent NPL on N21.3 billion is proof that the model works,” he said.
