Meta Description: Abbey Mortgage Bank Plc has posted a profit after tax of N1.45 billion for the nine months ended September 2025, a 56% increase driven by higher interest income and improved operating performance.
Abbey Mortgage Bank Plc has reported a strong financial performance for the nine months ending September 30, 2025, with profit after tax rising by 56.4 per cent to N1.45 billion, compared with N928.25 million recorded in the same period of 2024. The growth reflects the bank’s continued expansion in mortgage financing, deposit mobilisation, and prudent cost management amid Nigeria’s challenging economic environment.
According to the bank’s unaudited financial statement released on Thursday, gross earnings for the period surged to N13.69 billion, representing a 62 per cent increase from N8.45 billion recorded in the same period last year. The improvement was driven by stronger interest income, increased customer deposits, and growth in other non-interest income streams.
Profit before tax also grew by 56.7 per cent year-on-year to N1.52 billion, up from N970.1 million in 2024, while earnings per share rose to 19 kobo, compared with 8.45 kobo in September 2024.
The bank’s net interest income, which represents the difference between interest earned and interest paid, increased to N3.10 billion from N2.42 billion recorded in the previous year. This was largely supported by a surge in interest income, which climbed to N13.09 billion, up from N8.10 billion a year earlier.
Abbey Mortgage Bank also reported that its total operating income reached N3.70 billion, an increase from N2.77 billion in the corresponding period of 2024. This growth was achieved despite a moderate rise in operating expenses, which grew to N2.18 billion, compared with N1.80 billion in the same period last year. The increase in expenses was attributed to higher personnel costs and other operating overheads linked to business expansion and digital transformation efforts.
Despite the cost pressures, the bank maintained strong profitability margins, reflecting efficient cost control and disciplined management of its balance sheet.
On the balance sheet side, total assets of the mortgage institution rose to N111.35 billion as of September 2025, compared with N84.25 billion recorded in December 2024. This 32 per cent increase was mainly driven by higher customer deposits and improved liquidity.
Customer deposits grew sharply to N79.77 billion, up from N53.90 billion recorded at the end of last year, showing growing confidence among depositors in the bank’s services and financial stability.
However, loans and advances to customers declined to N6.37 billion, compared with N12.07 billion in the same period of 2024. Industry analysts attribute the decline to a more cautious approach to credit disbursement in the face of rising default risks and inflationary pressures affecting Nigeria’s real estate and housing market.
The bank’s shareholders’ equity rose to N10.07 billion, compared with N9.23 billion previously, showing improved capital adequacy and retained earnings from the current period’s performance. Abbey Mortgage Bank also reported a healthy liquidity position, with cash balances held with the Central Bank of Nigeria (CBN) and other banks amounting to N28.27 billion.
The statement noted that the bank fully maintained its regulatory reserves and statutory requirements, in line with Central Bank of Nigeria regulations, reflecting sound risk management practices and strong corporate governance.
Market observers said the bank’s performance highlights its ability to sustain growth through innovation and efficient capital management. With the ongoing reforms in Nigeria’s mortgage and housing sector, Abbey Mortgage Bank is positioning itself as a key player in expanding access to affordable housing and mortgage financing across the country.
Abbey Mortgage Bank, which is one of Nigeria’s leading primary mortgage institutions, has continued to diversify its income base by integrating technology-driven products and improving customer experience across its branches nationwide.
Analysts believe the bank’s strong earnings, improved liquidity, and growing asset base will help it meet the new recapitalisation requirements in Nigeria’s banking industry and further expand its mortgage lending capacity.
The management of Abbey Mortgage Bank said it remains focused on delivering sustainable growth, improving shareholder value, and supporting Nigeria’s housing finance ecosystem through strategic partnerships and innovative financial solutions.
