The management of Abbey Mortgage Bank Plc has hinted at plans to take the institution to new heights with benefit to shareholders, old and new investing public.
The general manager of the Abbey Mortgage Bank Plc, Sir. Madu Hamman described the Lagos State Government’s ongoing amendment to its Mortgage and Property Law to include foreclosure procedures as a positive development that would improve the fortunes of industry operators and address the deficit challenge of housing in the state and the entire country.
The new brand identity, he stressed, signals a new dawn in Nigeria’s mortgage industry and the company’s 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.
“The Lagos State Government’s review process to change the state’s mortgage and property laws by including foreclosure proceedings is a very positive development for our sector and we are calling on other governments in the country to emulate Lagos State, Hamman added.
“This is one of the innovations aimed at improving the fortunes of the mortgage industry and we will continue to work with various agencies to continuously improve the operating environment.”
He made these statements during the unveiling of the Abbey Bank’s new logo that is meant to signify the rebranding of the 29-year mortgage bank and its new direction as: “We have returned the bank to the path of profitability and significantly grown our customer base, size of balance sheet and share of the market.”
Hamman said that Abbey’s mission is to become the first choice for mortgages housing finance and investments and this rebranding would reposition the bank to be able to occupy its pride of place as a clear leader in the sub-sector.
“We have also introduced our e-banking channels. We will be rolling out our internet and USSB platforms that would empower our customers to transact seamlessly from wherever they may choose. Shortly we will introduce an interactive and easy-to-use mobile app channel, which we are confident to delight our customers.”
This relaunch is following on the heels of the over-subscribed right issue earlier this year. It reinforces Abbey Mortgage Bank Plc 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.