The Central Bank of Nigeria (CBN) approves the conversion of Abbey Mortgage Bank to a regional commercial bank, according to reports referencing the regulator’s approval and the bank’s filings. Following the approval, the institution transitions from “Abbey Mortgage Bank Plc” to “Abbey Bank Plc.” Premium Times reports that the name change occurs after shareholders pass a resolution at an extraordinary general meeting held on Friday, 24 January 2025, and that the conversion and updated name are reflected in a regulatory filing. The Punch similarly reports that the CBN approval enables the bank’s shift to commercial banking and notes the resulting change to Abbey Bank Plc. Both accounts describe the development as a significant change in the bank’s status and operations, moving from a mortgage-focused institution to a regional commercial bank structure. No additional details about the timeline of operational changes, the scope of new activities, or the specific conditions attached to the conversion are provided in the excerpts supplied.
CBN approves Abbey Mortgage Bank’s conversion to regional commercial bank
The Central Bank of Nigeria (CBN) approves the conversion of Abbey Mortgage Bank to a regional commercial bank, according to reports referencing the regulator’s approval and the bank’s filings. Follow...
- The CBN approves Abbey Mortgage Bank’s conversion to a regional commercial bank.
- The bank’s name changes from “Abbey Mortgage Bank Plc” to “Abbey Bank Plc.”
- Shareholders pass a resolution at an extraordinary general meeting on 24 January 2025.
- The conversion and name change are reflected in regulatory filings mentioned by the reports.
The Central Bank of Nigeria has approved Abbey Mortgage Bank’s conversion to a regional commercial bank, now Abbey Bank Plc, marking a significant expansio Read More: https://punchng.com/cbn-approves-abbey-mortgage-banks-transition-to-commercial-banking/
2 months ago“In addition, pursuant to he resolution of shareholders at the extra-ordinary general meeting of the bank held on Friday, 24th January 2025, the name of the bank has been changed from “Abbey Mortgage Bank Plc” to “Abbey Bank PLC,” it stated in a regulatory filing. The post CBN approves conversion of Abbey Mortgage Bank to regional commercial bank appeared first on Premium Times Nigeria.
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