AG Mortgage Bank Boosts Capital to Expand Homeownership Amid Challenges

AG Mortgage Bank PLC is enhancing its capital base and expanding mortgage access in Nigeria amid economic challenges. The bank plans to raise its equity capital to 10 billion naira to support affordable homeownership opportunities for Nigerians.

Despite economic difficulties like inflation and currency fluctuations, the bank remains committed to providing accessible mortgage lending. Established in 2004, AG Mortgage Bank aims to be a key player in the affordable housing market, supporting the nation's housing sector.

The bank's chairman, Rev Dr. Abel Amadi, emphasized the institution's dedication to making homeownership achievable for Nigerians despite the prevailing economic landscape.