CBN Approves Abbey Mortgage Bank for Commercial Banking Operations

* Commencement of operations expected in Q4, 2026

Abbey Mortgage Bank Plc, one of Nigeria’s leading and longest‑standing primary mortgage banks, has officially received regulatory approval from the Central Bank of Nigeria (CBN) to convert to a commercial bank.

This milestone marks the beginning of a transformative era for the institution, expanding its capacity to deliver comprehensive banking solutions to its growing clientele.

After years of consistent financial performance, robust risk management, and market leadership in the mortgage sector, the upgrade aligns with Abbey’s strategic vision to democratise access to financial services.

As a commercial entity, the bank will now offer an extensive suite of retail, corporate, and digital banking services while retaining its deep‑seated expertise in real estate financing.

Preparations are already underway for a seamless operational transition, with infrastructure deployment, corporate rebranding, and technology integration scheduled over the next few months.

The institution is expected to officially launch and commence full commercial banking operations in the fourth quarter (Q4) of 2026.

Further announcements regarding the exact launch date, new corporate identity, and product rollout are anticipated in the coming months.

The transition is poised to significantly enhance customer experience through broader electronic banking channels, tailored SME financing programs, international trade services, and high‑yield wealth management portfolios.