Abbey Bank transitions to regional commercial banking

Abbey Bank Plc, formerly known as Abbey Mortgage Bank Plc, has received approval from the Central Bank of Nigeria (CBN) to operate as a regional commercial bank. This transition marks a significant shift for the institution, which has spent over three decades specializing in mortgage financing and real estate development.

Managing Director and CEO Mobolaji Adewumi stated that the bank aims to expand its reach to individuals, businesses, and corporate customers. To prepare for the commencement of commercial operations in the fourth quarter of 2026, the bank is upgrading its digital infrastructure, refreshing its brand identity, and migrating customers to an enhanced core banking platform.

The bank intends to leverage its existing expertise in real estate finance to serve a broader range of financial needs while focusing on digital banking to improve accessibility and service delivery.