Safetrust Mortgage Bank Limited (formerly Safetrust Savings and Loans Limited) is a leading Primary Mortgage Bank (PMB) licensed by Central Bank of Nigeria (CBN) and duly accredited by Federal Mortgage Bank of Nigeria (FMBN) for the disbursement of the National Housing Fund (NHF) loans to contributors. Incorporated on the 2nd of September, 1992, Safetrust Mortgage Bank Limited commenced operations in September 1993 at its registered office located at 18, Keffi Street Ikoyi, Lagos.



The Bank has a diversified ownership structure with its shares owned by institutional investors, high net-worth individuals as well as professionals in various industries with a common goal of providing first-class mortgage banking services to its customers.



After over ten years of operation and in furtherance to the aspirations of its management and shareholders towards re-positioning the company for greater challenges, a core investor with the requisite technical and financial background was sought. This desire culminated in the acquisition of 49% of the companys shareholding by Magnum Trust Bank Limited in 2004.



In 2006, following the consolidation of Magnum Trust Bank Limited into Sterling Bank Plc. which comprised NAL Bank Plc, Trust Bank of Africa Plc, NBM Bank Plc and Indo-Nigeria Bank Limited, Safetrust Mortgage Bank Limited became an affiliate of Sterling Bank Plc.



In June 2007, upon the consent of its shareholders, the bank increased its authorized share capital from ₦200,000,000 to ₦450,000,000 and its issued share capital from ₦102,403,000 to ₦375,023,000. In December 2007, the Bank, in view of its increasing business portfolio further increased its authorized share capital from ₦450,000,000 to ₦1,000,000,000 through the creation of an additional ₦550,000,000 which was registered at the Corporate Affairs Commission and fully issued to new investors and shareholders.



The Bank, in a bid to accommodate the interest of its growing shareholders, further increased its authorized and issued share capitals. The Bank increased its authorized share capital from ₦1,000,000,000 to ₦1,067,500,000 and this was fully allotted and duly registered at the Corporate Affairs Commission in March, 2009.



Following the revised guidelines provided by Central Bank of Nigeria (CBN) on recapitalization for Primary Mortgage Banks, the Bank increased its authorized share capital and issued share capital from ₦1,067,500,000 to ₦2,000,000,000 and ₦1,067,500,000 to ₦1,686,750,000 respectively in 2013, and had a shareholders fund of ₦2,779,000,000. Subsequently the bank sought a State operating license, which was approved by CBN in February 2014.



In line with the new Regulation on mortgage banking activities in Nigeria with a deadline of 31st December, 2013 on the minimum capital requirement, Safetrust Mortgage Bank Limited surpassed the minimum capital/shareholders fund of ₦2.5billion for state operating license. Consequently the Bank changed its name to Safetrust Mortgage Bank Limited.



In January 2017, fresh capital in the sum of ₦2,500,000,000 was injected into the Bank, which grew its shareholders funds from ₦2,779,000,000 to ₦5,279,000,000. This move qualified the Bank for a national operating license, which was duly approved by CBN.



In pursuit of its business focus of providing comfortable and affordable housing for Nigerians, Safetrust Mortgage Bank Limited has financed various housing estates in different parts of the country which include:

    • 12 units of detached bungalows in Warewa, along Lagos-Ibadan Expressway.
    • 24 units of 3 bedroom apartments at Amuwo Odofin, Lagos.
    • 9 units of 3 bedroom and 3 units of 4 bedroom apartments in Aba Johnson, Ikeja Lagos.
    • 6 units of 3 bedroom apartments, situated at Ikeja Lagos.
    • Hamilton Greenville Estate comprises of 4 units of 4 bedroom Terrace apartments and 4 units of 3 bedroom apartments at Lekki, Phase 1, Lagos.
    • Aida Ville Estate comprises of 6 units of 3 bedroom apartments and 5 units of 4 bedroom terrace houses also situated at Lekki Phase 1, Lagos.
    • Safecourt Apartments comprises of 112 units of 3 & 4 bedroom high rise blocks of flats. Safecourt Apartments offers a compact community of luxury apartments of varying types comprising the Royal 3 bedroom flats, and the Executive 4 bedroom flats. It is built to the highest quality of standards in a serene environment. The Safecourt Apartments towers prominently in the middle of a pool of other luxury estates on the side of Lagos bound traffic of Lekki Epe expressway, offering an exquisite view of the Atlantic. UPDCs Treasure Garden and Primewater View Gardens are to the west, the Palms Estate to the south while Nicon Town, Victory Park and Femi Okunnu Estate to the east side. Other landmark structures in that vicinity include House on the Rock Cathedral.

The on-going projects financed by the Bank include:

    • Safe Towers; which consists of 48 units of exclusive 3 bedroom apartments and 6 units of 5 bedroom Penthouse duplexes with private swimming pool. The project is located in Lekki.
    • Safetrust Estate; which has 50 units is made up of 2 detached 4 bedroom units and 48 units of 3 and 4 bedroom semi-detached duplexes. Project is located in Sangotedo.
    • SafeTown; which sits on about 9 hectares of land in Ajah. Construction on this commences in October, 2018.
    • Orchard Grove; which is located in River Valley Estate, Ojodu has 8 units of 4 bedroom terrace houses.

Safetrust Apartments, Yaba has 51 units of studio apartments, 4 units of one bedroom apartments and 32 units of two bedroom apartments.

Principally, the Bank engages in the provision of mortgage finance facilities to our target market. We offer various mortgage banking services including savings schemes geared towards long-term benefits such as home ownership with a view to complementing the National Housing Policy of the Federal Government of Nigeria.
We also engage in the following activities:

  • Estate Management Services.
  • Funds Placement and Loan Syndication.
  • Leasing and other services related to our primary objectives.