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Abbey Bank cuts bad loans to zero as it transitions to commercial banking

Abbey Mortgage Bank Plc says it has reduced its non-performing loan (NPL) ratio from about 80% to zero following a debt recovery exercise, as it transitions into regional commercial banking.

  • Abbey Bank's non-performing loan ratio drops to zero
  • CEO Mobolaji Adewumi inherited legacy debts from 2007-2008
  • Bank pivots to commercial banking with digital focus

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