Iwa Community Bank Nig.  Ltd., Ayetoro – Oke was born into the banking world in 1995.  And it was fully commissioned on the 16^th December, 1995 to commence its banking businesses, by the then chairman of Kajola Local Government in person of Chief Gbade Adejumo.

The Bank was established to promote social, economic development of the people in its Geographical location and suburbs.  Since its establishment, the bank has been doing all its possible best to alleviate financial sufferings of the people of Kajola Local Government Area. It was doing this by accepting deposits from the surplus economic units and granting to the deficit economic units to meet the immediate demands of their businesses.

But unfortunately, Iwa Community Bank Nig. Ltd. could not meet all the needs of its numerous customers financially because of its capital inadequacy. And worst still, these unreached customers had no alternative bank that they could run to for the bail out from their financial messes. As a result of this, some of them resigned to fate while some were praying to God for miracles of breakthrough from financial sufferings to come their ways.

Fortunately, Iwa Community bank was one of the community banks in the country that met the requirement.  It was then issued with certificates to start Microfinance banking businesses in its environment.  Having secured Microfinance bank certificates, Iwa community bank Nig.  Ltd., Ayetoro – Oke has changed its former name to IWA MICROFINANCE BANK NIG., LTD AYETORO – OKE.

IWA MICROFINANCE BANK NIG., LTD., AYETORO – OKE, had since December, 2007 worn a new look with sufficient capitalization, goal – oriented board of Directors and well structured composition of its competent members of staff.  And by 2008, the bank had fully commenced the microfinance banking businesses by spreading its tentacles of financial services to the formerly unserved and unreached numerous customers within and outside its business environment.

Iwa Microfinance Bank Ltd., Ayetoro – Oke, has committed its resources both materials – money and human-staff to the social, economic development of the people of Kajola Local Government and beyond.  The Bank has been doing this in order to achieve its motto which unequivocally reads thus, “Established for grassroots development”.