The Board of Abbey Mortgage Bank Plc has announced that the Central Bank of Nigeria has approved the conversion of the lender from a primary mortgage bank to a regional commercial bank.
The bank disclosed this in a regulatory filing submitted to the Nigerian Exchange Limited, other regulatory authorities, and the investing public on Wednesday.
According to a statement signed by the Company Secretary, Geoff Amaghereonu, the financial institution has also undergone a corporate name change as part of its transition strategy.
Pursuant to the resolution of the shareholders passed at the Extraordinary General Meeting of the bank held on Friday, January 24, 2025, the name of the bank has officially been changed from Abbey Mortgage Bank Plc to Abbey Bank Plc.
The management said the transition marked a significant milestone in the bank’s expansion plans within the Nigerian financial services sector.
Abbey Mortgage Bank Plc had earlier announced plans
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