Abbey Mortgage Bank has been further capitalised to N6bn following the approval issued by the Central Bank of Nigeria (CBN) of N3.03bn equity capital raised during the last right issue exercise of the bank.
This milestone is in line with the strategic plan of the Management to strengthen the position of the company to champion the most desired change in the Mortgage industry.
With the increased capital base, the bank has surpassed the minimum capital requirement for the mortgage subsector, and it has positioned itself for improved business opportunities.
In addition, this will give Abbey Mortgage Bank the capacity to respond to the dynamic economic realities in the subsector and the financial services sector at large, as well as improve the confidence of its customers and potential business partners.
Commenting on the recent development, the Managing Director of Abbey Mortgage Bank, Madu Hamman, stated that he is pleased that the bank has achieved another milestone, as this demonstrates the confidence the existing shareholders have in the new Management. In addition, he also thanked CBN for supporting the bank’s growth effort in the past year.
Furthermore, Abbey Mortgage Bank is set on the path of increased partnership with Real Estate firms, digital adoption drive through its USSD *5103# as well create more collaborative opportunities in the mortgage sector.
Abbey Mortgage Bank Plc engages in the provision of mortgage services, financial advisory and real estate construction finance. The Bank’s segments include Mortgage banking, Retail banking and investment solutions.
The Mortgage Bank also offers various products, such as term deposits, savings deposits, demand deposits, target savings, rent-to-own, home improvement loans.
Abbey Mortagage Bank USSD Code *5103#
Nigeria's leading financial institution, Zenith Bank, has reassured its customers of improved services following recent…
Zenith Bank, one of Nigeria's leading financial institutions, has restored improved services across its electronic…
Olam Agri, a leading agribusiness in Nigeria specializing in food, feed, and fibre, continues to…
The Economic and Financial Crimes Commission (EFCC) has accused bank executives of being complicit in…
Ada had always been cautious with her money. Growing up, she watched her parents work…
South Africa may become the host of the next two editions of the All Africa…
This website uses cookies.