Globus Bank Limited is extending credit to small and medium-sized businesses through a data-driven lending model, even as it expands its branch network across the country.
In April, the bank and fintech firm Nomba disclosed that their 18-month credit partnership had disbursed N21.3 billion to merchants, with a non-performing loan ratio below one per cent. The loans were spread across sectors including wholesale and retail, professional services, and food and hospitality.
Under the arrangement, credit decisions are based on real-time transaction data from Nomba’s payment platform rather than audited financial statements and land titles, which many small businesses cannot produce. Borrowers instead pledge digitised collateral tied to their use of the platform. Globus Bank provides the capital and operates within its lending licence, while Nomba handles credit assessment and monitoring.
The bank’s Managing Director/CEO, Elias Igbinakenzua, said the result was evidence of what can be achieved “when capital is deployed based on verified transaction data.” He added that the partnership reflected a shift towards disciplined, infrastructure-led lending.
The two firms plan to widen the programme to attract more institutional lenders, including commercial banks and development finance institutions, with a focus on logistics, healthcare and manufacturing.
Globus Bank’s growth is also visible on the high street. The bank now operates about 50 branches and 104 ATM terminals nationwide, up from 43 branches a little over a year ago, and plans to open at least ten more before the end of 2026. In an interview with BusinessDay last year, Igbinakenzua explained that the bank set out to be a household name in Nigeria and does not believe banking should be “strictly virtual for now.”
The numbers behind the expansion are strong. For the full year 2025, the bank doubled its profit after tax to N82.6 billion and grew total assets by 64 per cent to N2.58 trillion, with no non-performing loans on its books.
Beyond the balance sheet, the bank’s leadership has been vocal on the issues facing its customers. In July, Igbinakenzua delivered the keynote lecture at the 9th Professor Adebayo Akerele Memorial Lecture Series at the University of Benin, where he warned that millions of workers in the informal sector remain outside the Contributory Pension Scheme. He called for pension coverage to be expanded beyond the formal workforce, for stronger enforcement of employers’ remittances and for greater transparency in the management of Retirement Savings Accounts. He also urged workers to begin retirement planning early and to monitor their pension contributions.
The bank is also investing in the next generation of sports talent. It partnered Falcon Golf Development Company for the 2026 World Corporate Golf Challenge National Finals, held at Ikoyi Club from May 29 to 31, with proceeds going to the Falcon Golf Academy, which trains young Nigerians to become professional golfers.
Globus Bank commenced operations on November 6, 2019, and is a CBN-licensed national commercial bank headquartered in Victoria Island, Lagos. Igbinakenzua, a chartered accountant who trained at PwC, spent eight years as an executive director at Zenith Bank and four at Access Bank before processing the licence for Globus Bank.
