Credit Direct Limited is a non-bank finance company with its Head-Quarters in Lagos, Nigeria. The company was established in 2007 and is focused on providing Payroll based consumer loans to eligible individuals.
The Company currently operates in 25 states in Nigeria including the Federal Capital Territory– Abuja. With a staff strength of over 1000 employees and an active customer base in excess of 300,000, Credit Direct Limited is positioning itself to become the dominant market leader in the unsecured micro-lending (payroll lending) space in Nigeria and indeed Sub-Saharan Africa.
The Company’s 12- hour quick turnaround loan product “sharp sharp “is its flagship product and the core of the business. In 2011, it introduced its Asset based loans product which offers customers the opportunity to purchase house-hold items and also accommodate certain segments of the market which are averse to interest bearing loans. Credit Direct Limited launched a new product – Empower the Corps in 2015. A product that provides loans to corps members to start up small business, add a professional qualification or buy lifestyle or commercial assets.
We pride ourselves with providing quick turnaround loans for all within 12 hours with little documentation and top of the range customer service and efficient operational processes.
We put our customers at the center of what we do. We understand the day-to-day financial needs and pressures of cash constrained consumers. We want to work to deliver financial products that give customers more control and help them to get on with their lives.
Our Vision
To be the dominant provider of unsecured credit to salaried employees.
Our Mission
To provide convenient unsecured credit through a highly engaged workforce that delivers superior and sustainable wealth to our shareholders.
Our Values
- Professionalism
- Sustainability
- Customer Focus
- Excellence
We put our customers at the center of what we do. We understand the day-to-day financial needs and pressures of cash constrained consumers. We want to work to deliver financial products that give customers more control and help them to get on with their lives.
CREDIT RATING
CREDIT RATING
The following excerpt is from CDL’s first ever credit rating done by GLOBAL CREDIT RATING COMPANY
| RATINGS | |
|---|---|
| Category: | GCR |
| Outlook: | Stable |
| Security Class: | Long Term & Short Term |
| Rating Scale: | National |
| Rating: | BBB- (Long Term) & A3 (Short Term) |
KEY INDICATORS
KEY INDICATORS
| 2011(%) | 2010(%) | 2009(%) | APR-09 | |
|---|---|---|---|---|
| NOMINAL GROWTH | ||||
| Total Assets | 89.5 | 48.7 | 56.6 | N.A |
| Net Advances | 83.7 | 49.3 | 56.8 | N.A |
| Total Capital & Reserves | 41.6 | 21 | 123.1 | N.A |
| Total Funding (excl.equity portion) | 208.1 | 7 | 29.8 | N.A |
| Net Income | 21.5 | 67.1 | 76.6 | N.A |
CORPORATE GOVERNANCE FRAMEWORK
Board of Directors
Management Staff
