• Monday, February 26, 2024
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ASO Savings mulls nationwide expansion


ASO Savings and Loans plc has revealed its plan to significantly build up its mortgage loan portfolio and aggressively expand to all states of the federation.

Hassan Musa Usman, managing director, ASO Savings and Loans plc said that with the company’s successful recapitalisation, meeting the CBN’s N5billion minimum requirement for Primary Mortgage Institutions (PMIs), “ASO is reinvigorating its 3-year plan of expanding its business operations all over the country so that existing and prospective customers can have access to all the unique mortgage opportunities that ASO Savings offers. This development is part of our business vision planned for the company this year”.

He revealed that since it started business in 1995, it had created over 15,000 mortgages of over N40 billion as well as financed the construction of several housing estates.

The mortgage firm has been in bilateral agreement and strategic alliances with various state governments and even the Federal Ministry of Lands, Housing & Urban Development to provide massive housing schemes for Nigerians. Presently, ASO Savings has its footprints in various states across the country, partnering with State governments in Oyo, Cross Rivers, Abia, Lagos and the FCT among others to provide affordable homes to civil and public servants.

Usman further stated that “we will be revealing more information about the expansion plans in the coming weeks. However, with our solid capitalisation, asset base and capital projects across the country in partnership with both states and federal governments, we have grown so much in equity and capital base. All these, I am confident, will further validate our positioning statement and brand promise to be the Mortgage Bank of Choice, creating affordable homes for all Nigerians.”

ASO Savings has a variety of products aimed at meeting the diverse needs of its ever-increasing clientele. There are five product groups, Individual Banking, Home Financing, Small Business Banking, Real Estate Investment Banking and E-Banking. Under each Banking Group, there are accounts that have very flexible features (Savings & Current), making it easy for customers to benefit maximally. Interests on these products are amongst the most attractive within the banking sub-sector of the country.

Usman described ASO as the nation’s leading Primary Mortgage Bank “with a primary mission to build mutually profitable relationships anchored on a passion for excellence.