The new corporate identity and expansion drive of Abbey Mortgage Bank Plc is expected to increase the hope of shareholders and investors as the bank promises better dividend payments next year.
Mazi Emmanuel Kanu Ivi, chairman of the bank made the promise at an unveiling ceremony to officially introduce the bank’s new brand identity on Wednesday at the bank’s head office in Victoria Island, Lagos.
He said with the new corporate identity, shareholders will begin to smile. “We assured the public that our vision is now bigger than it was originally and as we begin to grow the wealth of the company, we will begin to grow the value of the shareholders”.
“Shareholders’ values are important to us and if it is important to us, it means they will partake in the sharing of the improved value of the company.
“That means within 18 months we started re-organisation, we have turned around the company from non-profit making to a profit making company,” he said.
Nigeria’s leading primary mortgage bank, incorporated in 1991, Wednesday announced its plans to expand its footprint in the financial sub sector of Nigeria.
Abbey Mortgage Bank has been a key player in the mortgage industry for close to three decades.
The new brand identity signals a new dawn in Nigeria’s mortgage industry and serves as a sneak peek into its quest to provide adequate support to real estate developers and individuals by leveraging its new digital solutions that will enhance the brand’s product offerings.
Madu Hamman, managing director, and chief executive officer, Abbey Mortgage Bank, disclosed at the unveiling ceremony that the Bank’s new look reflects the organization’s renewed commitment towards effective service delivery and leveraging technology in its expansion as it takes on even bigger projects.
“The re-energized Abbey is driven to ride on the new age by deploying digital solutions that will enhance our product offerings in the industry. To this end, we will be expanding our frontiers into construction finance and financial advisory, as we gear towards stepping out of our comfort zone, we will also ensure support for various players in the real estate value chain, as part of our new direction,” he enthused.
The relaunch followed the over-subscribed right issue earlier this year. It reinforces the bank as the market leader in the mortgage industry in Nigeria and adds to the long list of achievements to be celebrated in the organization’s history.
Over the years, Abbey Mortgage Bank has amassed laurels accrued to its effective 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. The non-aligned Primary Mortgage Bank also focuses on providing financial solutions for interested home seekers, developers, and cooperatives who desire well-structured mortgage offerings.
Abbey is one of the seven national Primary Mortgage Banks (PMB) licensed by the Central Bank of Nigeria (CBN) and Federal Mortgage Bank of Nigeria (FMBN). Abbey is in Business to provide one of the basic needs of man – Shelter – the dream of every Nigerian.
Source: Business Day NG