ABBEY was incorporated on August 26, 1991 and licensed to carry on business as a primary mortgage institution (PMI) by the Central Bank of Nigeria on January 11, 1992. Full commercial operations commenced on March 11, 1992. ABBEY commenced with an initial authorized share capital of N5million. Our share capital is currently N2.1billion, whilst our equity has grown over the years through capital injection, bonus issue, and profitable trading to more than N6 billion. Total assets are in excess of 12billion as at December 2015. At present, we are one of the most capitalized mortgage banks in Nigeria.
ABBEY currently employs over 200 staff. We have ten (10) branches covering three regions of the country including 3 branches in the FCT, and 6 in the Lagos axis.
Abbey was the first mortgage bank in Nigeria to:
- Have foreign equity investment through Africinvest Capital Partners, Tunisia.
- Be rated by an independent Rating Agency in Nigeria
- To be IFRS compliant
Our Professional affiliation/membership include:
- Mortgage Banking Association of Nigeria (MBAN).
- African Union of Housing Finance (AUHF).