Brent Mortgage Bank restates commitment to CBN guidelines

Brent Mortgage Bank has said it will continue to comply with the Central Bank of Nigeria’s guidelines for the mortgage banking sub-sector.

Brent, formerly Skyfield Savings and Loans, is one of the primary mortgage institutions recently licensed by the CBN to operate as a state mortgage bank.

The Managing Director, Brent Mortgage Bank, Mr. Kola Abdul, who spoke in Lagos during the unveiling of the bank’s new corporate identity, gave an assurance that the financial institution would remain true to its core value of integrity.

According to him, the bank is dedicated to boosting home ownership in the country.

“Brent Mortgage Bank will comply with the new CBN guidelines for the sector to the letter in governance, performance and growth; we want to be the reference bank in the mortgage industry,” Abdul said.

The managing director described the unveiling ceremony as the dawn of a new era, adding that the bank was now in good stead to ensure homeownership in the country.

“We want to be the benchmark for other mortgage banks in the country by leveraging on the efficiency and trust we have built over the years,” he added

Skyfield, which was incorporated and licensed in 2002, had been on a spirited rebound after years of decline occasioned by the instability that rocked the finance industry in recent years.

The PMI’s recovery received a boost in 2010 following the reconstitution of its board and management, including the appointment of Abdul, a banker and seasoned administrator.

The Abdul-led management team was not only able to weather the storm that hit the nation’s economy in the wake of the capital market burst and rumble in the money market, but has in the last four years introduced an efficient and effective processes and procedures that have successfully repositioned the bank.

The managing g director attributed the success recorded in the last four years to the management’s avowed commitment to sound corporate governance as well as strict adherence to international best practices and professionalism in its dealing with all stakeholders.

He also pointed to the bank’s understanding of the market and the risk tolerance measures it had put in place as factors that had sustained the steady recovery.

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