Mutual Alliance Savings & Loans Limited was incorporated on 20th August, 1992 as Quality Homes Savings & Loans Limited with a paid-up capital of N10 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 N100 million. Presently (2009), Mutual Alliance Savings & Loans Ltd has a fully paid up share capital of N200 million.
Mutual Alliance Savings & Loans Limited is the flagship of the Mutual Alliance Group and has over 10 branches/cash centers nationwide in Nigeria. The bank is fully computerized and has a Board of Directors and Management team made up of well-tested professionals with broad and deep experience in retail, investment and mortgage banking. The bank has its Head Office at Uyo, Akwa Ibom State, Nigeria. The bank has three subsidiaries namely Mutual Alliance Real Estate Ltd, De Petraco Leasing Company Ltd and Mutual Alliance Bureau De Change Ltd.