Nomba and Globu Bank Achieve Sub-1% NPL on N21.3bn Credit

Nomba, a Nigerian fintech firm, and Globu Bank have reported a sub-1% non-performing loan (NPL) ratio on a credit portfolio amounting to N21.3 billion. This achievement signals a shift towards volume-driven lending and performance-based credit delivery in Nigeria.

The companies disclosed this information in a joint statement, emphasizing the deployment of data-driven underwriting models that prioritize repayment performance. The credit portfolio is diversified across various sectors, including wholesale and retail (39%), professional services (28%), food and hospitality (11%), oil and gas (11%), and fast-moving consumer goods (8%).

Elia Igbinakenzua, Managing Director and Chief Executive Officer of Globu Bank, noted that this partnership reflects a shift towards disciplined, infrastructure-led lending, distinguishing their approach by focusing on the quality of underlying credit decisions. Yinka Adewal, Chief Executive Officer of Nomba, highlighted that the sub-1% NPL ratio on the N21.3 billion portfolio is proof that their model works, emphasizing the importance of understanding repayment behaviors in Nigerian credit conversations.