Nomba and Globus Bank highlight strong loan performance
Nomba and Globus Bank have reported a very low rate of loan defaults through their credit partnership. The two companies have deployed N21.3bn in loans across several key sectors in Nigeria, maintaining a non-performing loan ratio of less than one per cent. Their approach uses real-time transaction data and digitised collateral, rather than traditional lending requirements. Both firms plan to expand this model further with new partnerships.
TLDR
- Nomba and Globus Bank have deployed N21.3bn in loans to businesses in sectors like wholesale, retail, professional services, food, hospitality, oil and gas, and FMCG.
- The partnership has achieved a non-performing loan ratio of less than one per cent, which is significantly lower than typical business lending rates in Nigeria.
- Loans are assessed using real-time transaction data from Nomba’s platform, not just traditional financial statements or collateral.
- Repayment is tied to ongoing use of Nomba’s ecosystem, securing loans without conventional physical assets.
- Nomba aims to expand the model, targeting a N500bn credit book with more partnerships and a focus on sectors such as logistics, healthcare, and manufacturing.
