Rising from the ashes of Intercontinental Homes Savings and Loans (IHSL) plc, Trustbond Mortgage Bank plc made a giant entry into the Nigerian mortgage market recently, assuring its shareholders and customers of robust corporate governance that will not only provide good mortgage banking services, but also increase returns on their investment.

The bank assures further that in the coming months, it will witness a transformation and expansion of its operations to lofty heights, delivering mortgage products and services leading to homeownership.

Etigwe Uwa, the chairman of the bank who gave these assurances at a press conference to announce this new name and unveil the bank’s new logo, explained that the change from IHSL to Trustbond Mortgage was in keeping with the provision of the Share Sale and Purchase Agreement (SSPA), which required them to change the name of the bank within six months.

He disclosed that after Access Bank divested from IHSL following regulatory authorities directives, IHSL was taken over by a new investor known as Intertec which acquired Access Bank’s 51.88 percent shares in IHSL.

“In fulfilment of that commitment in the SSPA, the board of directors of IHSL resolved to change its name to Trustbond Mortgage Bank plc. The name change has been approved by the Central Bank of Nigeria and appropriate changes have been made at the Corporate Affairs Commission,” Uwa said.

Adeniyi Akinlusi, the bank’s managing director/CEO, explained that “Trustbond as their new name means that keeping the ‘trust’ of their customers is their ‘bond.’”

Akinlusi, who also explained their new logo, which has two primary colours – green and blue – and a house embossed, said the green colour symbolises their present and future productivity while the blue colour, which is royal, symbolises their resilience in the midst of challenges.

He added that the royal blue, like a royal family, symbolises calmness, explaining that they have remain calm in spite of the turbulent weather that the financial system passed through in recent time.

“The rectangular shape of the logo means keeping the trust while the embossed house with a small window represents us as a financial institution providing housing finance as a window or opportunity for homeownership,” he said.

The managing director listed a number of new mortgage products the bank had originated for its existing and intending customers, including HomePlan Account, Real Estate Account for Professionals, Target Savings, I-Home, Home for Life Accounts, among others.

2013-08-01