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Abbey Mortgage Bank marks 31 years of operations, eyes more innovation

Abbey Mortgage Bank appoints Adenike Kuti as independent director

Abbey Mortgage Bank is celebrating 31 years of operating in Nigeria, setting its sights on more innovation to consolidate its position in the mortgage industry.

The company, which turned 31 on March 11, 2023, said in a statement that it had remained committed to helping customers become homeowners and putting them on the path to financial freedom over the years.

“We are proud to be celebrating 31 years of supporting our customers and helping families achieve their goals of home ownership and financial freedom,” Bolaji Adewumi, managing director of the bank, said.

Adewumi added: “As we continue to thrive despite the ongoing economic downturn and its challenges, we remain customer-focused and steadfast in our mission to become the first choice for mortgages, housing, finance, and investment. We are thankful to you, our loyal customers, resolute employees, and partners for your faith in us.

“Our commitment to providing more flexible and attainable financial and investment solutions would mean more value through innovation, excellence and quality customer service.”

According to the statement, the bank has consistently offered innovative products and mortgage services that cater to the tailored needs of its diverse customer base and has also built a reputation of providing excellent customer experience, thanks to its knowledgeable team of bright minds.

It said the staff at Abbey have embedded its core value of customer focus by keeping the customer’s banking experience seamless and positive.

Dipo Adeoye, executive director, treasury and business growth, said: “To have achieved 31 years of leadership in the mortgage industry is a testament to our dedication, hard work, and commitment to excellence.

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“As we clock 31 years, we also look towards the future with excitement and optimism as we remain committed to innovate and improve our services, to better serve our clients, communities, and all our stakeholders.”

The statement said Abbey Mortgage Bank had over the years become a leading banking institution providing not only a wide range of retail banking products and services to customers but has also achieved increased profitability and growth in the last 2 years.

The bank ended 2022 with a profit before tax of N830.4 million, a 26.62 percent increase from 2021, and kicked off 2023 with a new investment rating of A- from Data Pro, a technology-driven credit rating agency, having achieved a BBB- rating from Agusto & Co. earlier in 2022, the statement said.