Nigeria, June 4 -- Abbey Mortgage Bank has secured regulatory go-ahead from the Central Bank of Nigeria (CBN) to proceed with its planned conversion to a regional commercial bank, the mortgage lender announced on Wednesday.

"In addition, pursuant to he resolution of shareholders at the extra-ordinary general meeting of the bank held on Friday, 24th January 2025, the name of the bank has been changed from "Abbey Mortgage Bank Plc" to "Abbey Bank PLC," it stated in a regulatory filing.

Shares in the primary mortgage bank jumped by 5.4 per cent to N7.8 per unit in Lagos at the end of trade on Wednesday.

The institution, which provides real estate construction finance and personal banking services, follows in the steps of other financial i...