The Ilisan Microfinance Bank Limited 74, Olofin Street, Ilisan Remo formerly Ilisan Community Bank Nigeria Ltd. was granted a Certificate of Incorporation number RC. 286125 dated 28th December, 1995 by the Corporate Affairs Commission (CAC) though authorized to commence banking business in 1993 with initial share capital of = N= 1,000,000.00.

Consequent on the Central Bank of Nigeria decision to phase out Community Banks from the country’s financial system and to replace them with Microfinance Banks (Institutions) with effect from 1st January 2008; the Central Bank of Nigeria approved the grant of a Microfinance Bank Licence to the bank.

The bank’s Authorized Share capital has progressively increased from =N=1M at commencement to =N=50M. Meanwhile the paid up share capital was =N= 34.4M with a shareholders fund of = N =54.8M as at 31/12/2015.

The ownership structure of the bank has largely been individuals with 93.3% holdings.