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Mortgage bank records N830.4m profit


Abbey Mortgage Bank has said it recorded N830.4m profit before tax in its 2022 financial period.

The bank disclosed this in a statement to celebrate its 31st anniversary.

It said, “Abbey ended 2022 with profit before tax of N830.4m, a 26.62 per cent increase from 2021 and kicked off 2023 with a new investment rating of A- from Data Pro, a reputable technology-driven credit rating agency, having achieved a BBB- rating from Agusto & co. earlier in 2022.

“Offering innovative mortgage and investment solutions, excellent customer experience and so much more is Abbey’s commitment to its customers.”

The company said it turned 31 on March 11, 2023, and had been providing exceptional services to customers and stakeholders since 1992.

Over the years, it added that Abbey had remained committed to its goal of building dreams by helping customers become homeowners and on the path to financial freedom.

The Managing Director, Bolaji Adewumi, said, “We are proud to be celebrating 31 years of supporting our customers and helping families achieve their goals of home ownership and financial freedom.

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