TrustBond, First Mortgages merge to become largest PMB
Temitope Adebayo
TrustBond Mortgage Bank Plc and First Mortgages Limited have just concluded a merger scheme that will see the combined entity emerge as the largest primary mortgage bank (PMB) in Nigeria.
Their emergence was sequel to their Court-Ordered Meeting contemporaneously held by the two mortgage banks on Wednesday, in Lagos.
In the Scheme of Merger document, the chairman, First Mortgages Limited, Omooba Adesina Augustine Buraimoh-Ademuyewo said the business combination is an attractive combination for all stakeholders.
According to him, customers will benefit from our wider and better-integrated array of mortgage banking services; employees will enjoy the advantages and opportunities of being apart of a larger, stronger bank.
He went further to state that shareholders will have the opportunity to continue to participate in the success of a bigger business.
The combined entity after the merger will produce the largest mortgage bank in the country providing mortgages and other financial services to greater number of people, more opportunity to the staff and create enhanced value to stakeholders and shareholders.
