Abbey Bank Plc, formerly Abbey Mortgage Bank Plc, is preparing to expand its services and market reach after receiving approval from the Central Bank of Nigeria (CBN) to operate as a regional commercial bank.
The bank’s Managing Director and Chief Executive Officer, Mobolaji Adewumi, said the transition would enable it to serve individuals, businesses and corporate customers more broadly, with commercial banking operations scheduled to begin in the fourth quarter of 2026.
Adewumi described 2026 as a defining year for the institution, which has more than three decades of experience in mortgage financing, real estate development and customer-focused financial services.
He said the bank was strengthening its institutional capacity, upgrading its digital infrastructure and refreshing its brand identity ahead of the launch.
The transition also involves technology integration, improved operational processes and migration to an enhanced core banking platform to improve service delivery.
Adewumi said the bank would build on its mortgage banking and real estate finance experience to meet a wider range of financial needs, while maintaining sound corporate governance, prudent risk management and regulatory compliance.
He disclosed that the bank recorded a profit before tax of ₦3.12 billion in 2025, up from ₦1.22 billion in 2024, describing the performance as a foundation for future growth and expansion.
He assured customers of a seamless transition and reaffirmed the bank’s commitment to trust, quality service and customer satisfaction.
