Mortgage bank unveils new branch

As part of its efforts in making banking services available to the nooks and crannies of State of Osun, Omoluwabi Mortgage Bank, Plc, has opened another branch in the ancient city of Ilesa.

The branch was commissioned by the state Governor, Ogbeni Rauf Aregbesola who disclosed that the bank which was incorporated in 1993 is a licensed mortgage institution with primary responsibilities of providing mortgage banking services, housing and property development solutions and general financial services for the people.

He stated that it is a thing of joy for him that the commissioning of a new branch of the bank coming shortly after the commissioning of Ejigbo branch, in May 2016, the Board of Directors and Management of the bank have achieved a remarkable milestone with the commissioning of the Ilesa branch.

Aregbesola who led the state functionaries to the event advised would be house- owners, property developers and traders to transact business with bank by opening account with them because of the single digit interest rate charged by the bank on mortgage loan.

While charging the bank to look at the possibility of having more branches within and outside the state at the shortest time with particular emphasis on the ancient city of Ile- Ife, he also expressed confidence that the proposed recapitalisation of the bank would make the bank ‘’stronger, efficient and able to support Small and Medium Scale Enterprises”

Earlier, the Chairman Board of Directors, Dr Adebayo Jimoh explained the transformational changes that the bank has passed through in structure, form, nomenclature, management and capital funding from 1993 when the bank was registered as Living spring Building Society to the present time when it became Omoluwabi Mortgage Bank Plc, having successfully met the listing requirements of both the Nigeria Stock Exchange and Securities and Exchange Commission.