Hardly 5 years, after being granted a tier-1 commercial banking license, Opportunity Bank is downgrading back to a Tier 2 Microfinance Deposit-taking Institution (MDI), CEO East Africa Magazine can exclusively reveal. This decision has been confirmed to CEO East Africa Magazine, in an email. It follows the Financial Institutions (Revision of Minimum Capital Requirements) Instrument 2022 of November 2022 that requires financial institutions to significantly increase their capital buffers. “Over the last 12 months, Opportunity Bank has comprehensively reviewed its strategic plan, business model, service offerings and target customer market. The outcome of this review shall be a transformed Opportunity…
This Is Premium Content. Subscribe And Save On Unlimited Access With Our Best Offers!
