Mutual Alliance Mortgage Bank Limited (formerly Mutual Alliance Savings & Loans Limited) was incorporated on the 20th August 1992 as Quality Homes Savings & Loans Limited with a paid-up capital of ₦10 million.

In 2001 the company was taken over by strategic investors who reorganized and re-engineered bank and then changed the name to Mutual Alliance Savings & Loans Limited with a fully paid-up share Capital of ₦400 million.

Further to the regulator (i.e. Central Bank of Nigeria) induced recapitalization exercise the shareholders of Mutual Alliance Mortgage Bank Limited through private placements increased the paid-up capital of the bank to over ₦2.6Billion, based on this the Central Bank of Nigeria renewed/reissued the banking license of the bank on the 3rd of January 2014 because the bank had surpassed the new capital requirement for mortgage banks.

The bank has its head office situated at No 209 Oron Road, Uyo, Akwa Ibom State.