October 6, 2022

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Mortgage bank to hold 30th AGM

The 30th annual general meeting of Abbey Mortgage Bank is scheduled to hold on Tuesday July 19, 2022, at its corporate head office in Lagos.

In a statement, the bank said as one of the only seven national primary mortgage banks (PMBs) licensed by the Central Bank of Nigeria and the Federal Mortgage Bank of Nigeria, Abbey Mortgage Bank had continued to lead the industry as an innovator in the Nigerian mortgage sector.

The statement noted that the bank had achieved the feat by offering mortgage services as well as retail and investment banking solutions, positioning itself as a one-stop shop for all domestic banking needs.

The Managing Director, Mobolaji Adewunmi, said, “The 2021 was a pivotal and a redefining year for Abbey, as we worked strategically to return the institution back to the path of sustainable profitability.”

Adewunmi said the bank believed this was a tip of the iceberg as projected forecasts, transformation, and tech & innovation strategies for the short to midterm were expected to boost earnings and returns for shareholders.

These would form the basis of the discussions at this year’s AGM, he noted.

Other items on the agenda, according to the statement, would include: the Board of Directors’ report on the company’s activities during the past financial year, the adoption of the audited 2021 annual report, the proposed distribution of profit as recorded in the adopted annual report, the proposed amount of dividends to be distributed or proposal to cover losses, among others.

The AGM would be streamed live on the bank’s social media platforms, the statement further said.

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This year marks Abbey’s 30th year of service in simplifying mortgage, housing, finance & investments to Nigerians.

“With our strategic partnership with VFD group and a rebranded image, we are poised for improved business growth and productivity in this evolving digital world,” the statement said.