ADVERTISEMENT
  • About
  • Advertise
  • Careers
  • Contact Us
Sunday, August 3, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
ADVERTISEMENT
Home Economy Finance

Abbey Mortgage Bank to Raise N100bn for Commercial Banking Licence

by Latifat Fashina
May 29, 2025
in Finance
0
Abbey Mortgage Bank Building
Abbey Mortgage Building

Abbey Mortgage Building

UBA
Advertisements

Abbey Mortgage Bank’s Board of Directors has approved plans to raise at least N100 billion to meet regulatory requirements and aid its conversion from a regional bank to a commercial bank.

The decision, taken at the bank’s 33rd Annual General Meeting held on May 28, 2025, was disclosed in a statement signed by Geoff Amaghereonu, the company secretary.

According to the statement, the bank will raise the fund through various instruments including issuance of shares, commercial papers, loans, convertibles and non-convertibles and medium-term notes.

The capital raise will enable the bank to meet the Central Bank of Nigeria’s (CBN) minimum capital requirements of N50 billion for commercial banks with regional authorisation.

MTN ADS

Abbey Mortgage Bank plans to deploy a range of strategies such as book-building and other financial methods to secure the fund while ensuring full compliance with regulatory guidelines.

This follows the CBN’s March 2024 announcement, which increased the minimum capital requirement for banks.

Under the new rules, commercial banks with international authorisation must now hold N500 billion, national banks N200 billion, and regional banks N50 billion.

Loading

MTN ADS

0Shares

MTN ADS
Tags: Abbey MortgageAbbey Mortgage Bank
Latifat Fashina

Latifat Fashina

LATIFAT FASHINA is the Business/Finance Reporter at Techeconomy. She can be reached via: latifat.fashina@techeconomy.ng

Next Post
FG Launches New HND Courses in AI, Cybersecurity, and Software Engineering

FG Launches New HND Courses in AI, Cybersecurity, and Software Engineering

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

Uber Record-Breaking Q2 2024: 21% Growth in Bookings, 71% Increase in Profitability YoY

Uber Record-Breaking Q2 2024: 21% Growth in Bookings, 71% Increase in Profitability YoY

12 months ago
Tony Elumelu Foundation Launches

UBA, Aura by Transcorp Unveil Summer Deals for Customers

12 months ago

Popular News

  • PalmPay Leads the Fight Against Fraud as Nigeria Loses Over ₦42 Billion in Q2 2024

    PalmPay Leads the Fight Against Fraud as Nigeria Loses Over ₦42 Billion in Q2 2024

    0 shares
    Share 0 Tweet 0

Connect with us

  • About
  • Advertise
  • Careers
  • Contact Us

© 2025 TECHECONOMY.

No Result
View All Result
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs

© 2025 TECHECONOMY.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Translate »
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.