AG Mortgage Bank Posts 42% Earnings Growth, Targets Capacity Expansion

AG Mortgage Bank Plc has recorded a 42 per cent increase in gross earnings to N4.93bn in 2025, up from N3.47bn in the previous year, as the mortgage lender moves to expand its funding capacity and deepen sustainable housing finance in Nigeria.

The bank disclosed this at its 2026 Annual General Meeting held virtually via Zoom on Friday, September 25, 2026.

Profit before tax rose by 89 per cent to N1.38bn, while profit after tax surged by 130 per cent to N1.06bn. Earnings per share also increased from N4.59 to N10.55.

Speaking at the AGM, the chairman of the Board, Rev. Abel Amadi, said the performance was achieved despite a challenging operating environment characterised by persistent inflation, high interest rates and exchange-rate volatility.

Amadi said the economic conditions had continued to put pressure on housing affordability and access to long-term mortgage finance across the country.

He said, “These results are particularly encouraging because they demonstrate that the Bank was able to achieve meaningful growth while operating within a demanding economic environment.”

The bank’s balance sheet also recorded significant growth during the year, with total assets rising by 48 per cent from N22.37bn in 2024 to N33.04bn in 2025.

Loans and advances increased by 44 per cent to N22.71bn, while customer deposits rose by 14 per cent to N9.48bn. Shareholders’ funds also strengthened by 17 per cent to N7.16bn.

The managing director and chief executive officer of the bank, Ngozi Anyogu, described the growth in the loan portfolio as particularly significant, saying it reflected the institution’s expanding capacity to deploy funds into mortgage lending while maintaining credit discipline and portfolio quality.

Both the chairman and managing director highlighted the bank’s efforts to broaden its funding base to support long-term mortgage lending.

A major development was the ₦7.83bn Mortgage Refinance and Investment Enhancement Facility, alongside continued access to funding from the Federal Mortgage Bank of Nigeria for qualifying National Housing Fund lending.

Anyogu said the funding arrangements went beyond liquidity, enhancing the bank’s capacity to participate in programmes aimed at widening access to housing finance and increasing the number of Nigerians able to own homes.

On sustainable housing finance, the management said its product development strategy remained focused on supporting affordable and liveable housing while creating value for customers, employees, shareholders and communities.

The bank said the strategy formed part of its Project Momentum 2030 agenda, which seeks to position the institution for a more technology-driven and customer-focused future.

On risk management and corporate governance, the management said the bank’s expansion would not be pursued at the expense of prudence.

The board said it strengthened oversight of credit quality, liquidity, enterprise risk and regulatory compliance during the year.

Management also said its credit risk framework now incorporates forward-looking assessments of macroeconomic conditions in line with the requirements of International Financial Reporting Standard 9.

AG Mortgage Bank, which marked 21 years of operations in 2026, said its next phase of growth would focus on scale, operational efficiency, customer reach and sustainable value creation.

The bank said it would deepen its core mortgage business while expanding its reach through technology and strategic partnerships.

At the end of the AGM, members of the Audit Committee were re-elected. They include Dr Mark Chigozie, Mr Monday Ubani and Engr Eme Tasie, among others