Abbey Mortgage Bank has published its audited financial statements for the year 2025, reporting a pretax profit of N3.1 billion.
This represents a 154.32% year-on-year increase compared to N1.2 billion in the prior year.
This performance was mainly driven by interest income of N18.9 billion, with cash and short-term funds of N14.2 billion making up the bulk of the earnings.
Top-line growth translated into bottom-line profitability, with earnings per share rising to 21 kobo from 11 kobo in the previous year.
Key Highlights (2025 vs 2024)
- Interest income: N18.97 billion (Up 58.71% YoY from N11.95 billion)
- Net interest income: N5.08 billion (Up 49.81% YoY from N3.40 billion)
- Net operating income: N6.16 billion (Up 62.66% YoY from N3.79 billion)
- Total operating expenses: N3.04 billion (Up 18.70% YoY from N2.56 billion)
- Profit before tax: N3.12 billion (Up 154.32% YoY from N1.22 billion)
- Profit after tax: N2.16 billion (Up 102.67% YoY from N1.06 billion)
- Earnings per share (EPS): 21 kobo vs 11 kobo
Driving the numbers
A cursory look shows that apart from cash and short-term funds of N14.2 billion, interest from investment securities of N2.5 billion, and loans of N2.1 billion contributed to total interest income.
- As expected, interest expenses jumped to N13.8 billion from N8.5 billion in the prior year, largely driven by amounts due to customers.
- After accounting for these expenses, net interest income settled at N5.08 billion, up 49.81% from N3.3 billion in the previous year.
On the non-interest side, the bank earned N766.8 million from fees and commissions, which, together with other income of N297.5 million, brought total operating income to N6.1 billion.
- After an impairment of just N15.2 million, net operating income remained at N6.1 billion, reflecting a 62.66% increase compared to the prior year.
However, total operating expenses of N3.04 billion, largely comprising personnel costs and depreciation and amortization, left pretax profit at N3.1 billion.
- After accounting for income tax expenses of N960.5 million, post-tax profit settled at N2.1 billion, up from N1.06 billion in the previous year.
On the balance sheet, total assets reached N165.8 billion, up from N84.2 billion, with financial investments making up 64.8% of the total asset base.
The bank’s total obligations rose to N155 billion from N75 billion, largely driven by customer deposits of N79.6 billion, while total equity increased to N10.78 billion with retained earnings of N2.4 billion.
Market reaction
As of market open on 1 April 2026, shares of Abbey Mortgage Bank had not yet reacted to the publication of its audited financial statements for 2025.
However, the stock has delivered strong returns of over 54% so far in 2026, and investors may respond to the company’s positive financial results, potentially driving the share price higher in upcoming sessions.
