Umunnachi Microfinance Bank Ltd, Abakaliki was incorporated on 1st November, 2013 by the Corporate Affairs Commission and granted approval-in-principle (AIP) to operate as a unit microfinance bank with a paid up share capital of twenty five million naira (N25m) on 10th August 2013 and final approval to operate in the same capacity with members of Board of Directors made up of Most Rev. Dr. Michael Nnachi Okoro, Rev. Fr. Anthony Ikenna Nnaji (Chairman), Rev. Fr. Isaac Nnanna Ogba, Mrs Agatha Ndu, Mrs Ngozi Felicia Chinedu Eze, Rev. Fr. Daniel Nnanna Agara, Mr. Sunday Uchechukwu Eze (Managing Director/ Chief Executive Officer) and Rev Fr. Felix Uche Akam, Secretary to the Board of Directors by the Central Bank of Nigeria (CBN) on 31st January 2014.

The Bank started operations on 10th February 2014 and was commissioned by the Chief Promoter and the Bishop of the Catholic Diocese of Abakaliki, Ebonyi State, Most Rev. Dr. Michael Nnachi Okoro on 28th February 2014. The Bank took off with a highly qualified and competent members of Board of Directors and experienced management staff.