Abbey Mortgage Bank reports 27% pre-tax profit increase for period ended December 2022

Abbey Mortgage Bank Plc has released its unaudited for the period ended December 31st, reporting a pre-tax profit of N830.43 million.

This represents a 26% increase from the N661.06 million which the company reported during the same period in 2021.

Key details of the unaudited financial report are summarised below.

MoreStories

How MTN Nigeria delivered one of its biggest quarterly profits on record

May 9, 2026

FirstHoldCo Q1 2026 profit jumps 72% to N321 billion on strong core income 

May 8, 2026

Gross earnings  

December 2022: N5.85 billion

December 2021: N3.67 billion

Change: +59%

Total operating income  

December 2022: N3.04 billion

December 2021: N1.99 billion

Change: +52.8%

Total operating expenses 

December 2022: N1.92 billion

December 2021: N1.52 billion

Change: +26%

Pre-tax profit 

December 2022: N830.43 million

December 2021: N661.06 million

Change: +26.62%

Net Profit after tax

December 2022: N664.35 million

December 2021: N622.19 million

Change: +6.77%

Bottom line: The growth in pre-tax profits was due to the increase in interest income boosted by loans and advances to customers and credit-related fees and commissions.

---

Add Nairametrics on Google News

Follow us for Breaking News and Market Intelligence.