• Business - Banking & Finance
  • Updated: June 12, 2020

Abbey Mortgage Bank Partners VFD Group

Abbey Mortgage Bank Partners  VFD Group


Abbey Mortgage Bank has partnered with VFD Group to enhance transformation and productivity for shareholders.

Abbey Mortgage Bank said it will key into the experimental and dynamic moves of VFD Group who recently acquired a 35% stake in Bank share.

Speaking to stockbrokers at the Nigerian Stock Exchange (NSE) in Lagos, the Managing Director of Abbey Mortgage Bank Plc, Mrs Rose Okwechime explained the transformation the partnership will bring.

She said; “I am pleased to inform you that the strategic partnership which Abbey Mortgage Bank Pls have nurtured has resulted in VFD Group Plc, acquiring 35% stake in Abbey Mortgage Bank Plc.

"The new investments will enable the two groups to form a strategy that would propel us to play major roles in the financial services industry. Abbey’s stable, longstanding business ethics and customer-centric culture will blend and grow with VFD’s innovative and aggressive drive to create superior value,” she said.

She added that the synergy would define the goals of the firm in the market, and would contribute to economic growth and deliver good returns to shareholders.

Meanwhile, accenting to the new deal, The Group Managing Director and Chief Executive Officer of VFD Group Plc. Nonso Okpala said; "Beyond the new client base and geographic reach this investment presents us, it is strategic towards driving the value chain and upselling of our real estate business. While we continue to seek out viable investment in diverse sectors, this investment further enhances our ability to ring-fence financial service offerings and make VFD Group and its subsidiaries a “one-stop-shop” for varying customer needs,” Okpala said.

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