Brent metamorphosed from Skyfield Savings and Loans Ltd that started operation in 2002 with N200million Capital base, which was increased to N1billion in 2007. In April 2010 new management and reconstituted board took over the organization. Structure and Strategy to engender growth and good corporate governance were emplaced. The new management moved the organization aggressively and cautiously from a State of low adjusted capital, poor staff morale, and waned customers’ confidence to an enviable level for recapitalization in two years.
Having rekindled the interest of all the stakeholders in the organization and the mortgage sector, the board and management embarked on private placement exercises to increase the adjusted Share Capital to N2.5billion in order to meet the minimum capital requirement of Central Bank of Nigeria for a State Primary Mortgage Bank License.
In a grim determination to take Mortgage banking in Nigeria to a lofty and remarkable level, the board and management opted for a new corporate Identity as a step towards rebranding the organization, hence the new name Brent Mortgage Bank Ltd, effective 1st April, 2014. This new name has been approved by Central Bank of Nigeria and necessary changes effected at the Corporate Affairs Commission.
WHAT DOES BRENT STAND FOR? :-
Firstly, Brent is a word commonly used in the petroleum industry to describe the best grade and the benchmark for other crude oils.
Secondly, Brent is an old English name meaning “high place”.
Thirdly, Brent is an acronym that depicts our core values of “Building Relationships on Efficiency and Trust”.
It is incisive to say that Brent Mortgage Bank Ltd intends to be the reference point in Mortgage Financing in Nigeria. We want to be the best managed Primary Mortgage Bank and the benchmark for others.
