Alert Group Named Fastest-Growing Financial Services Group at 2026 BAFI Awards

Alert Group has been named Fastest-Growing Financial Services Group of the Year at the 2026 BusinessDay Banks and Other Financial Institutions Awards (BAFI), recognising the group’s rapid expansion, financial performance and efforts to widen access to financial services in Nigeria.

The award was presented at the 14th edition of the BAFI Awards, held at the Civic Centre in Victoria Island, Lagos. The annual awards recognise financial institutions that demonstrate excellence, innovation and leadership across Nigeria’s financial services industry.

Growth Driven by Lending and Deposit Mobilisation

Alert Group’s latest recognition comes amid significant expansion across its financial services businesses.

The group’s growth has been driven by increased lending, stronger deposit mobilisation and a strategy focused on providing financial and green-energy solutions to individuals and micro, small and medium-sized enterprises (MSMEs).

The company’s financial performance also reflects the pace of its expansion. In the first half of 2026, Alert Group reported a 127.8 per cent increase in profit before tax to ₦1.31bn, while profit after tax rose by 128 per cent to ₦865.29m.

Total assets increased by more than 300 per cent year-on-year to ₦118.35bn, while deposits surged by 474.7 per cent to ₦94.82bn. Loans and advances also rose by 224.2 per cent to ₦80.41bn.

National Licence Supports Expansion

A major development supporting the group’s growth has been Alert Microfinance Bank’s acquisition of a national microfinance banking licence from the Central Bank of Nigeria in 2026.

The licence has provided the group with a platform to expand its operations beyond its previous geographic limitations and serve more individuals and businesses across the country.

Alert Group currently operates across more than 20 states, with over 45 branches serving individuals and MSMEs. Its physical network is complemented by digital channels including the Alert Mobile app, Goldbucks savings app, Alert Business Banking, POS services and the Alert Debit Card.

Focus on MSMEs and Financial Inclusion

Commenting on the award, Group Chief Executive Officer Dr Kazeem Olanrewaju said the recognition reflected the group’s efforts to expand access to finance, particularly for small and medium-sized businesses.

He said the group would continue strengthening its operations, developing relevant financial products and creating opportunities for more Nigerians to access funding and financial services.

The focus on MSMEs is significant given the sector’s importance to Nigeria’s economy and the persistent financing challenges faced by smaller businesses.

By combining lending, savings, investment and other financial services, Alert Group is positioning itself to capture growing demand for accessible financial products among underserved individuals and businesses.

Four Businesses Power Group’s Expansion

Alert Group operates through four subsidiaries: Alert Microfinance Bank, Auto Bucks Lenders, Bucksfield Asset Management and Greenbucks.

Together, the businesses cover microfinance banking, SME lending, investment and asset management, as well as clean-energy financing.

This diversified structure gives the group exposure to several areas of Nigeria’s expanding financial services market while also allowing it to combine conventional financial products with emerging opportunities in digital finance and renewable energy.

Building Scale Through Digital Channels

The group is also expanding its digital footprint as part of its strategy to reach more customers beyond its branch network.

Its digital platforms are designed to provide customers with easier access to savings, payments, lending and other financial services.

The strategy reflects a broader shift in Nigeria’s financial sector, where digital channels are increasingly becoming important for reaching customers outside traditional banking locations.

For Alert Group, the combination of physical branches and digital services could help it scale its customer base while maintaining access to communities where financial inclusion remains relatively low.

Recognition Comes Amid Rapid Expansion

The BAFI award adds another layer of recognition to a period of rapid growth for the group.

Alert Group previously reported that its total assets increased from ₦2.9bn in 2023 to ₦63bn at the end of 2025, representing growth of more than 2,000 per cent over three years.

The group has continued to target further expansion, supported by its national microfinance banking licence and investments in technology, lending and renewable-energy financing.

What the Award Means for Alert Group

Beyond the recognition itself, the award underscores the growing competition within Nigeria’s financial services industry as institutions seek to expand their customer bases, deepen financial inclusion and develop new sources of growth.

For Alert Group, sustaining its momentum will depend on converting its rapid balance-sheet expansion into long-term profitability, strong asset quality, customer trust and sustainable financial inclusion.

With its expanding branch network, digital platforms and broader product offering, the group is positioning itself for a larger role in Nigeria’s financial services market.

The BAFI award therefore comes at a significant point in Alert Group’s expansion journey, recognising not only its recent growth but also its ambition to build a broader financial services platform serving individuals and businesses across Nigeria.