The Kaduna Polytechnic has launched a microfinance bank tagged: Kadpoly Microfinance Bank Limited, to serve both the community of the institution and its host communities.

Commissioning the bank, the rector of the institution Engineer Danjuma I. Isah said the bank was established to reach out to all segments of the community by availing them avenue to save their money and as well get soft loans without going through the excruciating experiences of the big banks.

He said the bank has met all the Central Bank of Nigeria (CBN) requirement and reiterated the readiness of the bank to contribute in alleviating poverty in the country.

"The bank is a true community bank as it is sponsored and owned by the community and is placed in the hands of seasoned and dedicated staff who are working round the clock to ensure that customers problems are solved within the shortest time," he said.

The rector solicited for the support and patronage of all to enable the bank impact positively on the lives of the communities.

He said: "Business community, entrepreneurs of all sizes should feel free to approach the bank with their financial problems, because we are given special attention to small and medium enterprises,". The Managing Director of the bank, Alhaji Abdullahi Abubakar in his address said the bank would assist in reducing the problems of poverty and unemployment in the country.

"We have the capacity, we have the resources and we are willing to partner with relevant organization in our bid to contribute in the reduction of the problems of unemployment and poverty," he added.

He lauded the CBN governor Sanusi Lamido Sanusi for injecting N400 billion in the five troubled banks, saying this intervention has saved the banks from systematic collapsed.