Refuge Mortgage Bank Limited has a rich history dating back to 1992 when it was incorporated as a Private Limited Liability Company. Over the years, the bank has built a reputation as a leading player in the Nigerian Mortgage Banking sector. It holds a valid license from the Central Bank of Nigeria authorizing it to engage in Mortgage Banking activities, and it began operations in 1993.
The bank is duly registered with the Federal Mortgage Bank of Nigeria Limited as an accredited vehicle for the disbursement of the National Housing Fund. This has enabled it to channel resources towards the development of affordable housing for Nigerians. In 2005, Refuge Mortgage Bank Limited was acquired by a new core investor who demonstrated its commitment to the growth of the bank by injecting fresh capital into the institution.
Despite the turbulent economic times, Refuge Mortgage Bank Limited remains financially stable and well-capitalized, thanks to its prudent management practices. Presently, the bank’s authorized share capital is N4,000,000,000.00, which is quite impressive. Currently, the bank has fully paid up and allotted N2,609,087,175.00, cementing its position as a major player in the Nigerian Mortgage Banking industry.