Our Story

Our Story

Understanding the reality of the challenges many Nigerians face in their journeys to home ownership, our founder, Rose Ada Okwechime, in 1991, set out on a mission to bridge the gap between well-meaning ‘hopeful home owners’ and the affordable housing solutions they so desired. This goal informed the bank’s maiden vision - ‘making homes happen’, which defined the business we have built today.

Today, Abbey is one of the only seven national Primary Mortgage Banks (PMB) licensed by the Central Bank of Nigeria and the Federal Mortgage Bank of Nigeria (FMBN). In the recent recapitalization exercise that led to the down size of mortgage banks from 105 to only 34 mortgage banks, Abbey did not only emerge successfully capitalized but rose as one of the few that met the National obligation, whilst being a public liability company.

Abbey continues to lead the industry as an innovator in the Nigerian mortgage sector, not just offering mortgage services but also retail & investment banking solutions, positioning itself as a one-stop-shop for all domestic banking needs.

From our initial authorized share capital of N5million, we have grown to over N2.1billion in share capital and increased our equity to more than N6 billion through capital injection, bonus issue, and profitable trading. At present, we are one of the most capitalized mortgage banks in Nigeria employing over 200 staff with ten (10) branches covering three regions nationwide.

Our leadership & innovation in the industry has led to significant wins for us including our recognition as the “Best Mortgage Bank in Nigeria”, whilst being the first mortgage bank in Nigeria to have foreign equity investment through Africinvest Capital Partners; being rated by an independent Rating Agency in Nigeria; and, being IFRS compliant.

After three decades of excellence in simplifying mortgage, housing, finance & investments to Nigerians, Abbey Mortgage Bank is now re-imagined and repositioned for improved business growth and productivity in a new world. Positioned for the age of digitization, the new Abbey is equipped with the technology of the new generation whilst still embracing its old ambition of “making homes happen” for all. This new vision welcomed a strategic partnership with VFD Group, a formidable team of innovators and energetic trailblazers who share our belief for leading-edge technology to provide bespoke banking products and services to suit the most discerning of customers.

Over the next decade and beyond, Abbey will continue with a new modern & technologically efficient vision and outlook, continually adopting the best standards, processes and practices to deliver truly innovative products, services and solutions that simplify mortgage, housing & finance, making it truly accessible for all.