Abbey Mortgage Bank Reports N1.45bn Profit in Nine Months, Earnings Surge 56% YoY

Abbey Mortgage Bank Plc has announced a robust profit after tax of N1.45 billion for the nine months ending September 30, 2025, marking a remarkable 56.4% increase compared with N928.25 million in the same period last year. The growth reflects strong operational performance under the leadership of Managing Director Mr. Madu Hamman, who has emphasized strategic growth and enhanced customer engagement.

The bank’s gross earnings climbed to N13.69 billion, up from N8.45 billion in 2024, while profit before tax rose to N1.52 billion, representing a 56.7% year-on-year increase. Earnings per share also improved significantly, reaching 19 kobo, up from 8.45 kobo during the same period in 2024. Analysts attribute the gains to the bank’s growing interest income and efficient cost management.

Net interest income, the difference between interest earned and interest paid, grew to N3.10 billion, compared with N2.42 billion last year, fueled by higher interest earnings, which surged to N13.09 billion. Total operating income also increased to N3.70 billion, up from N2.77 billion, showing the bank’s ability to capitalize on lending opportunities despite challenging market conditions.

Operating expenses rose to N2.18 billion from N1.80 billion, mainly due to higher personnel and administrative costs. However, the bank managed to sustain strong profitability margins, highlighting prudent financial management. The bank’s balance sheet also strengthened, with total assets increasing to N111.35 billion and customer deposits climbing to N79.77 billion.

Loans and advances, however, fell to N6.37 billion from N12.07 billion, while shareholders’ equity grew to N10.07 billion. The bank maintained robust liquidity, with cash balances and balances due from other banks totaling N28.27 billion, and fully met regulatory and statutory reserve requirements. These results signal a solid foundation for continued growth and investor confidence.

source: punch