VFD Group Plc has announced that its Board of Directors approved significant investments in Abbey Mortgage Bank Plc and the e-commerce platform Bvndle Loyalty Limited.
This was detailed in a disclosure published on the Nigerian Exchange Group on March 27, 2025, and signed by company secretary Gbeminiyi Shoda, following a Board meeting held two days earlier.
The investment in Abbey Mortgage Bank Plc is intended to support the bank’s capital raise and provide VFD access to the real estate and landed properties financing market in which the bank operates.
Additionally, the Board’s approval of funding for Bvndle Loyalty Limited seeks to enhance VFD Group’s involvement in the loyalty rewards market, given that Bvndle enables businesses to effectively reward customers and manage their relationships.
Investing in both sectors—the real estate financing market and the loyalty rewards market—will likely strengthen the operations of the recipient companies and enable VFD to explore newer, profitable opportunities.
Furthermore, the Board authorized the capitalization of VFD UK, VFD South Africa, and Template Limited to support their market diversification efforts in the UK, Pan-Africa, and within specialized lending operations, respectively.
Bvndle and Abbey Mortgage Bank
Bvndle is a data-driven loyalty platform that helps businesses thrive and enables customers to maximize their value.
By utilizing data analysis and a broad partner network, Bvndle assists businesses in rewarding their customers and managing relationships more effectively.
- In 2024, Bvndle established partnerships with UBA, Piggyvest, VFD Microfinance Bank, and AXA Mansard to enhance customer loyalty.
According to the recent release by VFD, the Board approved an investment in Bvndle Loyalty Limited to strengthen the group’s presence in the loyalty rewards sector.
On the other hand, Abbey Mortgage Bank specializes in financing affordable housing units for home seekers, developers, and cooperatives.
- The bank provides various real estate services and enables clients to access housing finance while offering guidance and advisory services with a commitment to high-quality customer support.
- Abbey Mortgage Bank is also the leading mortgage stock on the Nigerian Exchange (NGX), with a 43% year-to-date gain as of March 27, 2025, following a 35% return in 2024.
Investing in Bvndle and Abbey Mortgage Bank would likely enable VFD to explore opportunities in both the loyalty rewards market and the real estate financing sector, while also helping the target companies improve their operational efficiency.
Recent capital injection
In February 2025, VFD Group announced a significant capital injection of N5 billion into VFD Microfinance Bank (V Bank), effective February 18, 2025.
- This decision aligns with Section 289(8) of the Companies and Allied Matters Act 2020, underscoring VFD Group’s commitment to bolstering the operations of its digital-first financial institution.
- Commenting on this investment, Nonso Okpala, the Group’s Managing Director and Chief Executive, stated:
“This milestone represents a transformative leap in empowering Nigerians through innovative banking solutions. We see V Bank as a catalyst for economic growth, designed to address the diverse needs of our communities.”