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CBN has approved Abbey Mortgage Bank Plc’s transition into a commercial bank beyond mortgage financingThe bank has promised to bridge mortgage banking and full-scale commercial servicesAbbey has assured that customers’ deposits continue to be protected under NDIC insurance coverage
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Abbey Mortgage Bank Plc has secured approval from the Central Bank of Nigeria (CBN) to begin commercial banking activities in Nigeria.
The new license now gives the Abbey the opportunity to extend its activities from mortgage financing into full-scale commercial banking for all categories in the retail, corporate, SME and digital banking segments.
Abbey Mortgage Bank gets green light for full commercial operations Photo: AbbeySource: Getty Images
A statement from the lender confirming the development stated that regulatory approval is a historic point in the bank’s growth strategy and the regulator’s
