Abbey Mortgage Grows Profit by 154% to N3.1bn in 2025

Abbey Mortgage Bank has reported a profit before tax of N3.1 billion for the 2025 financial year, representing a 154.32 per cent increase from the N1.2 billion recorded in 2024.
The bank disclosed this in its audited financial statements released on the Nigerian Exchange, as it posted a profit after tax of N2.16 billion, which was up by 102.67 per cent from N1.06 billion in the previous year.
The results showed that interest income rose significantly by 58.71 per cent to N18.97 billion from N11.95 billion in 2024, supported by earnings from cash and short-term funds which contributed N14.2 billion, alongside N2.5 billion from investment securities and N2.1 billion from loans.
Despite a rise in interest expenses to N13.8 billion from N8.5 billion, mainly due to increased customer deposits, net interest income grew by 49.81 per cent to N5.08 billion compared to N3.40 billion recorded in the prior year.
Further breakdown indicated that net operating income climbed by 62.66 per cent to N6.16 billion from N3.79 billion in 2024, buoyed by N766.8 million generated from fees and commissions and additional income of N297.5 million.
Operating costs, however, rose by 18.70 per cent to N3.04 billion, driven largely by personnel expenses as well as depreciation and amortisation charges, but this did not significantly erode profitability.
Earnings per share also improved to 21 kobo from 11 kobo in the previous year, reflecting enhanced shareholder value. On the balance sheet, the bank’s total assets surged to N165.8 billion from N84.2 billion, with financial investments accounting for 64.8 per cent of the asset base.
Total liabilities increased to N155 billion from N75 billion, largely on the back of customer deposits which stood at N79.6 billion, while shareholders’ funds rose to N10.78 billion, supported by retained earnings of N2.4 billion.