CRUTECH Community Micro-finance Bank Nigeria Limited was incorporated as Polycal Community Bank Nigeria Limited in 1995 and commenced business in August of the same year. It was a product of necessity to the Polytechnic, Calabar, its community as well as the contiguous communities. For a very long time the area did not have the presence of a bank to service the economic needs of the people. The only means to access banking services was to commute to the city centre. This often resulted in monies being lost to thieves who trailed people to or from banks. Others who could not cope with frequent movement to the city centre became victims of night robberies. For The Polytechnic a lot of man-hour was being lost when workers had to move en-mass to banks in the city centre for salaries. Students were losing study hours and funds commuting to the city centre to pay School Fees. The economic predicament facing The Polytechnic, Calabar then arising from gross underfunding and often late receipt of subvention from the government created a huge administrative burden for management, hence the need for the institution to look inward. The outcome was the establishment of the Polytechnic, Calabar Development Association (PCDA). The PCDA in conjunction with the institution then sought and obtained the approval of the National Board for Community Bank (NBCB) to incorporate and operate Polycal Community Bank. The bank’s Authorized Share Capital of 500,000 was fully subscribed and paid. The ownership structure of the bank at inception was as follows:

S/No Entity Unit of Shares Amount ( )
1 The Polytechnic, Calabar 95,000 95,000
2 Polycal Community Development Association 180,000 180,000
3 Polycal Industrial Consultancy Services 50,000 50,000
4 Polycal Multi-purpose Cooperative Society 20,000 20,000
5 Individuals 155,000 155,000
Total 500,000 500,000


The bank’s primary clientele was The Polytechnic, Calabar. All funds of the school were channeled to the bank. All staff salaries were routed through the bank. All school fees were collected from the students by the bank.

The bank developed gradually from a balance sheet size of less than 1million in 1995 to 156.7million in 2006. The authorized and paid-up Share Capital grew from 500,000 to 50million and 500,000 to 36.4million respectively between 1995 and 2006.

Arising from banking sector reforms of 2005/2006 that saw the phasing out of Community Banks and the advent of Micro-finance Banks, Polycal Community Bank Nigeria Limited met Central Bank of Nigeria’s (CBN) conversion criteria and converted to CRUTECH Community Microfinance Bank Nigeria Limited on 18th May 2007. It was licensed by the Central Bank of Nigeria on 4th January 2008 as a Unit Microfinance Bank. The bank has applied to Central Bank of Nigeria for conversion from Unit to State MFB having met the re-capitalization requirement of 100million as at 31st December, 2013. The authorized share capital as at 31st December 2014 was 150,000,000 while the issued and fully paid shares capital was 145,577,827. The total asseet base of the bank as at 31st December 2014 stood at 369,200,824.


To be a leading and preferred Microfinance bank in our niche market.


To provide efficient and innovative financial services for empowerment of economically active segment of the populace and create value for our stakeholders.


The bank’s concept is to develop a strong institution based on brand pillars of excellence, integrity, creativity and stakeholders’ satisfaction.


  • To provide credit to micro and small entrepreneurs willing to develop legitimate and autonomous business activities within the banks catchment area;
  • To design and develop financial products that enhances customers businesses and assists them in attaining their business goals;
  • To provide training and advisory services that will aid the growth of customer’s businesses;
  • To make financial services accessible to a large segment of thee potentially productive population which otherwise would have little or no access to financial service;
  • To assist the Federal Government in achieving the policy objective of integrating the informal sector into the financial system through grassroots deposit mobilization;
  • To encourage attitudinal change among the populace towards saving.
  • To achieve these objectives, the bank is set to provide the following special services;
  • Grant credit to micro, small and medium scale entrepreneurs to assist them expand their businesses;
  • Introduce saving products that will enhance a saving culture;
  • Provide other financial services that enhance business growth;
  • Offer informal financial and business management training to support customer’s business growth;
  • Provide business advisory services that help informal clients attain legal status.