Gateway Mortgage Bank

What Gateway Mortgage Bank does

Gateway Mortgage Bank Limited is a Nigerian Primary Mortgage Bank (PMB) licensed by the Central Bank of Nigeria, established in 2005 and commencing operations in February 2006 under registration RC 625383. The bank is majority-owned (95.4%) by the Ogun State Government through Gateway Holdings Limited, with Ogun State Housing Corporation and Ogun State Property Investment Corporation holding minority stakes of 2.3% each. It is headquartered in Abeokuta with four branches across Ogun State (Abeokuta, Ota, Mowe, Sagamu) and a liaison office in Abuja. The bank received a N2.5 billion capital injection from the Ogun State Government in December 2014 to upgrade its license to a State Mortgage Bank and targets N10 billion in total capitalization. Its customer base exceeds 18,000.

The bank operates a specialized mortgage and retail banking platform anchored by FMBN accreditation for National Housing Fund (NHF) loans at 6% per annum and membership in the Nigeria Mortgage Refinancing Company (NMRC) and Family Homes Fund. Its product suite spans long-term mortgages (G-HOMES, G-DM, G-MRIEF, G-FHF, NHF, G-PIS, G-SIS, GRAL, ISA), transaction accounts (GCA, RSA, TSA, TCSA), salary advance, and digital channels (GMB Smart mobile app, GMBLite USSD *822*25#, internet banking, POS Fast Track, Verve debit card). Interest rates range from 6% (NHF) and 7%-9.75% (FHF/MRIEF blended) up to 28% (G-HOMES, G-FHF portion).

Revenue is generated primarily through mortgage interest income and related fees, supplemented by salary advance fees, account maintenance charges, inter-bank transfer fees, and NHF processing and management fees. Customer acquisition is hybrid: branch-led sales in Ogun State, digital self-service via USSD and mobile app, employer-based salary domiciliation partnerships, and diaspora-focused marketing for the G-DM product. Distribution is broadened through associate bank relationships with Sterling, FCMB, First Bank, EcoBank, Wema, GTBank, Access, and Skye Bank.

Name

Gateway Mortgage Bank

Legal name

Gateway Mortgage Bank Limited

Website

https://gatewaymortgagebankng.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

11–50 employees

Short description

Gateway Mortgage Bank Limited is a Nigerian Primary Mortgage Bank majority-owned by the Ogun State Government, providing mortgage, savings, and digital banking services to civil servants, diaspora Nigerians, and informal-sector customers across Ogun State through four branches and USSD, mobile, and internet platforms.

Ownership category

akta.pro rank

Product category

Mortgage Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (52218), Depository Credit Intermediation (5221)

SIC

Mortgage Bankers & Loan Correspondents (6162)

akta.pro industry

PRIMARYFSALAAAD

Purchase Mortgage Origination (Homebuyer Focused)

Financial & Insurance/Mortgage & Housing Finance/Residential Mortgage Origination (Retail & Consumer Direct)

SECONDARYFSALAEAA

Prime (Agency/Conforming) Mortgage Servicing

Financial & Insurance/Mortgage & Housing Finance/Mortgage Servicing & Subservicing

SECONDARYFSALADAB

Multifamily Mortgage Origination

Financial & Insurance/Mortgage & Housing Finance/Commercial & Multifamily Mortgage Lending

Keywords

• Mortgage banking
• Housing finance
• Retail banking
• Savings accounts
• Digital banking

Headquarters

HQ city

Abeokuta

HQ country

Nigeria

HQ region

Africa

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Supply Chain

Revenue model

1. Mortgage Interest Income: Primary revenue stream from mortgage lending including NHF loans (6% p.a.), civil servant loans (21% p.a.), general mortgages (24% p.a.), G-HOMES (28% p.a.), and other mortgage products. Interest is charged on loan principal with repayment periods ranging from 1-30 years.
2. Salary Advance Fees: Short-term salary advance loans providing up to 50% of net monthly salary with minimum loan of N12,500 and maximum of N500,000 for salary account holders.
3. Account Maintenance and Transaction Fees: Fees from current and savings account maintenance, inter-bank transfers (via NIBSS), ATM withdrawals, POS transactions, and other banking service charges.
4. Diaspora Mortgage Services: Gateway Diaspora Mortgage (G-DM) product targeting Nigerians abroad with property acquisition loans up to N70 million at market-determined rates.
5. NHF Processing and Management Fees: Fees from National Housing Fund loan processing, mortgage advisory services, title valuation, and property insurance arrangements.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels5 records

Core offering

Gateway Mortgage Bank Limited is a Nigerian Primary Mortgage Bank providing long-term housing finance (NHF, G-HOMES, diaspora, property improvement and rent loans), short-term salary advances, retail deposit accounts (current, regular, target and children's savings), and digital banking channels (mobile app, USSD, internet banking, POS, Verve debit card). It serves civil servants, low-to-middle income earners, informal-sector workers, SMEs, educational institutions and the Nigerian diaspora primarily in Ogun State.

Product overview

Gateway Mortgage Bank Limited operates as a platform of mortgage and banking products consisting of core mortgage offerings (G-DM Diaspora Mortgage, G-MRIEF, G-FHF Family Homes Fund, NHF Loans, G-HOMES, G-PIS Property Improvement, G-SIS School Improvement, G-RL Rent Scheme, and Informal Sector Account), deposit accounts (GCA Current Account, TCSA Children's Savings, TSA Target Savings, RSA Regular Savings), loan products (Salary Advance), and digital banking channels (GMB Smart mobile app, GMBLite USSD *822*25#, Internet/iBanking, POS Fast Track, and Verve Debit Card). The company provides integrated mortgage financing and retail banking services primarily focused on home ownership and property development across Ogun State, Nigeria.

Differentiator

Problem solved

Functional benefit

Brands

• GMB Smart: Mobile banking application offering real-time banking services and lifestyle features
• GMBLite
• GMB Instant Debit Card
• G-HOMES
• G-PIS
• G-SIS
• G-DM
• G-FHF
• G-MRIEF
• GRAL
• GSA
• GTCSA
• GTSA
• GCA
• ISA
• TCSA
• RSA

Products and services

• NHF (National Housing Fund) Loan Mortgage finance product for NHF contributors in formal and informal sectors to access housing loans from Federal Mortgage Bank of Nigeria through GMB at 6% p.a. fixed for building, buying or renovating residential properties, with up to 30-year tenor and minimum 10% equity contribution.
• G-HOMES (Gateway Home Ownership Mortgage Empowerment Scheme) Long-term mortgage facility for professionals, public servants and business owners to purchase already built properties with verified title documents, offering up to N120 million at 28% p.a. with option to refinance with NMRC.
• G-DM (Gateway Diaspora Mortgage) Mortgage product designed for Nigerian residents abroad who want to buy property in Nigeria for personal use or investment, offering up to 65% of property value, maximum N70 million, with up to 10-year tenor and minimum 35% equity contribution.
• G-MRIEF (Gateway Mortgage Refinancing and Inequality Expansion Fund) Mortgage product providing access to affordable housing through MRIEF funding at 9.75% p.a., with up to 90% MRIEF financing and 10% customer equity contribution to bridge the gap between home buyers and developers.
• G-FHF (Gateway Help-to-Own Mortgage of the Family Homes Fund) Special mortgage loan for low- to medium-income first-time home buyers to acquire already built properties, co-funded by Family Homes Fund at 7% p.a. and GMB at 28% p.a., with 5-year moratorium on principal.
• G-PIS (Gateway Property Improvement Scheme) Retail mortgage facility for civil servants, artisans, petty traders and private individuals for purchase of lock-up shops, house rent, home renovation and land acquisition.
• G-SIS (Gateway School Improvement Scheme) Savings and loan product designed for privately owned nursery, primary, secondary and tertiary institutions to improve school standards through access to funding for school infrastructure improvement and expansion.
• GRAL (Gateway Rent Advance Loan) Short-term retail loan facility for payment of house rent with repayment period of up to 2 years and minimum opening balance of N50,000.
• Salary Advance Short-term loan product providing up to 50% of net monthly salary for government and private staff with active salary accounts domiciled at GMB, ranging from N12,500 minimum to N500,000 maximum with 24-hour disbursement and no collateral required.
• ISA (Informal Sector Account) Savings and loan product supporting customers from the informal sector with short-term mortgage financing, flexible collateral and guarantor arrangements tailored to informal-sector income patterns.
• GCA (Gateway Current Account) Current/checking account designed for high net worth customers and SMEs with high transaction volumes, allowing business transactions, cheque usage and overdraft access.
• RSA (Regular Savings Account) Regular savings account with minimum opening balance of N5,000 encouraging saving culture and providing immediate fund access through ATM.
• TSA (Target Savings Account) Savings account for people who wish to save regularly to build capital for specific events such as Christmas, marriage, holy pilgrimage or festivals, with minimum monthly deposit of N5,000.
• TCSA (Treasure Children's Savings Account) Savings account for parents, guardians and wards to save for children's financial obligations such as school fees and birthday parties, with minimum opening balance of N10,000.
• GMB Smart Mobile Banking App Mobile banking application on iOS and Android providing informational, lifestyle services and real-time seamless banking including transfers up to N2,000,000 daily, airtime recharge, bill payments and account management.
• GMBLite USSD Banking (*822*25#) USSD banking service accessible via *822*25# for non-smartphone users without internet connectivity, providing self-service account opening, airtime recharge, transfers up to N100,000 daily, bill payments and account management.
• Internet Banking (iBanking) Online banking platform providing direct and full access to individual or corporate accounts for various banking transactions including dispute management, quick loans and branch locator.
• GMB Verve Debit Card Naira-denominated debit card linked to savings or current accounts accepted across Nigeria wherever Interswitch or Verve logos are displayed for POS, web and ATM transactions with EMV Chip-and-PIN technology.

Quantifiable outcome

• Over 200% growth in customer deposits
• +2 more outcomes

Named customers4 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature5 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Nigeria Mortgage Refinancing Company (NMRC)coreStrategic or Co-development Partner · 1 May 2017GMB is a member of NMRC, an association providing mortgage refinancing facilities for cheaper interest rates and longer loan tenors. NMRC enables GMB to offer competitive refinancing options to customers after 6 months of loan repayment.
• Federal Mortgage Bank of Nigeria (FMBN)coreStrategic or Co-development Partner · 1 January 2005GMB is accredited by FMBN to access National Housing Fund (NHF) loans, enabling provision of affordable housing loans to Nigerians at single-digit interest rates (6% p.a.).
• Family Homes Fund (FHF)coreStrategic or Co-development PartnerFHF co-funds the Gateway Help-to-Own Mortgage product with 40% of financing at 7% p.a., providing low-to-middle income earners access to affordable housing with 5-year moratorium on principal.
• Associate Banks NetworkminorChannel Partner/ Reseller/ DistributorPartnership with Sterling Bank, First City Monument Bank, First Bank of Nigeria, Eco Bank, Wema Bank, Guaranty Trust Bank, Access Bank, and Skye Bank for inter-bank transfers, clearing services, and customer deposit collection.
• Estate Developers (Prince Court Estate)minorStrategic or Co-development PartnerGMB facilitates property sales for estate developers including Prince Court Estate in Abeokuta, providing mortgage financing to buyers and property listing services.

Scale indicators9 records

Recent moves9 records

Expansion highlights6 records

Others

• Nigeria Mortgage Refinancing Company (NMRC): Mortgage refinancing facility that provides PMBs with longer-tenor, lower-cost funding after 6 months of loan repayment. Ecosystem participant directly shaping GMB's funding economics and competitive pricing.
• Family Homes Fund Limited: Federal initiative co-funding affordable housing with PMBs, including GMB's G-FHF Help-to-Own product at 7% p.a. Direct strategic partner and key funding source for the bank's LMI affordable-housing pipeline.

Broad incumbents

• Federal Mortgage Bank of Nigeria (FMBN): Apex government mortgage institution that administers the National Housing Fund and accredits PMBs (including GMB). Larger and broader in mandate, with national reach; included because it is the regulator-counterparty that defines GMB's NHF product economics.
• Wema Bank Plc: Nigerian commercial bank with national branch network, digital channels (ALAT), and mortgage products. Broader incumbent competing for the same civil-servant and SME deposits; GMB's Chairman previously served on Wema's board.

Direct peers

• Abbey Mortgage Bank Plc: Listed Nigerian Primary Mortgage Bank offering NHF-backed mortgages, deposit products, and digital banking. Closest direct peer in licensing, product set, and target market (Nigerian mortgage finance), but with national distribution and stock-market access that GMB lacks.
• Imperial Homes Mortgage Bank Limited: Licensed Nigerian PMB with a similar mortgage-and-deposits franchise and digital channels. Comparable in product set, scale, and customer mix to GMB, including diaspora and salary-based lending.
• First Trust Mortgage Bank Plc: Nigerian Primary Mortgage Bank formed from the merger of TrustBond Mortgage Bank and FBN Mortgage. Direct peer in PMB license category, mortgage origination, and savings products; comparable in product mix and CBN oversight.
• Mutual Trust Mortgage Bank Plc: Nigerian Primary Mortgage Bank focused on retail mortgage origination, NHF administration, and savings products. Directly comparable on PMB license category, customer segments, and reliance on FMBN schemes.
• AG Mortgage Bank Plc: Nigerian PMB offering NHF and conventional mortgage products alongside retail banking. Direct peer in CBN-licensed mortgage banking, with overlapping products (NHF, salary-advance, savings) and similar regulatory framework as Gateway Mortgage Bank.

Emerging players

• Carbon (Carbon Finance): Digital lender offering consumer credit and savings via mobile in Nigeria. Emerging fintech competitor for the same unbanked/underbanked retail customers GMB targets through USSD and GMB Smart.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/gatewaypmb
• Facebookfacebook.com/gatewayPMB
• Instagraminstagram.com/gatewaypmb

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Gateway Mortgage Bank