Abbey Mortgage Bank kicked off the year on a high note, celebrating 30 years in the banking industry and has continued on an upwards trajectory in financial growth and now, its rating.
It’s brand recognition across digital and traditional media platforms has sky-rocketed, building trust with a more diverse and increased customer base.
The BBB rating from leading Pan-African Credit Agency, Agusto & Co, will further propel Abbey as a first choice for mortgage and related investments in the country.
According to Agusto & Co, “the rating is supported by Abbey’s good capitalization, experienced management team, strong commitment from shareholders, good level of provisioning for impaired loans and low leverage”.
Dipo Adeoye, the Executive Director, Treasury and Business Growth, while speaking on the bank’s new rating stated: “The outcome of the rating exercise is a demonstration of the progress we have made in rebuilding the bank in the last two and a half years and we are committed to continuous improvement in line with our corporate objective “.
Mobolaji Adewumi , Managing Director, at the Nigeria Trade and Investment Summit UK. Speaking on Financing the Housing Market in Nigeria stated that: “Real Estate has proven to be an effective hedge against inflation in Nigeria, especially if you invest in properties in prime locations”.
He advised there are opportunities in the secondary market for real estate with dynamic products and service offerings which will improve the Mortgage Industry, where Abbey is well positioned to support individuals and organisations with this new rating.