The Bank started operation as a community Bank on 31st October 1993. It was license by National Board for Community Banks. In 2002 Central Bank took over the licensing and supervision to all Community Banks in Nigeria.
In 2015, The Federal Government launched the Microfinance Banking in Nigeria. All Community Banks were directed to covert to Microfinance Banking. And in 2007, Biyama Community Bank Converted to Microfinance Banks Ltd.