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#
Stanbic IBTC Asset Management has implemented strong measures to safeguard its customers from an alarming…
Michael Owhoko, Ph.D The root cause of Nigeria’s problem is, unarguably, an inappropriate system of…
Stanbic IBTC Pension Managers has launched the third edition of their highly anticipated FUZE Talent…
Stanbic IBTC Holdings, a member of Standard Bank Group, has unveiled the fourth edition of…
Stanbic IBTC Pension Managers has again made a significant mark on Nigeria's cultural landscape by…
NOVA Bank, one of the latest commercial banks in Nigeria, may be experiencing a major…
This website uses cookies.