Abbey Mortgage Bank gets nod of support from investors with over-subscription

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Abbey Mortgage Bank gets nod of support from investors with over-subscription
Abbey Mortgage Group Executives

Abbey Mortgage Bank is repositioned for growth with the recently concluded right issue exercise which will increase the capital of the bank by circa N3billion. The success of the right issue is an indication of the confidence that the shareholders have in the management and the strategic intention of the bank.

In the last few months, the bank grew its deposit liability to N14billion from N6billion in 2020 through aggressive sales drive and increased brand visibility. In order to attain the next phase of growth, the management has identified key areas to drive revenue which includes mortgage/construction finance, treasury related activities and aggressive customer acquisition through the launch of its digital channels.

Abbey is one of the seven national Primary Mortgage Banks (PMB) licensed by the Central Bank of Nigeria and Federal Mortgage Bank of Nigeria (FMBN). The bank provides banking services in personal savings and investments, cash management, specialized banking, deposit and funds management, children and school account services, real estate and mortgage services, amongst others.

Abbey Mortgage Bank Plc focuses on providing economical housing units for interested home seekers/developers/cooperatives who desire a well-structured mortgage offer.

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