Abbey Mortgage Bank has released its audited financial statements for the year 2025, reporting a pretax profit of N3.12 billion—a remarkable 154.32% increase from N1.22 billion in 2024. The performance underscores a period of robust growth for the bank, driven primarily by strong interest income.
Interest income surged to N18.97 billion, up 58.71% year-on-year from N11.95 billion, with cash and short-term funds of N14.2 billion forming the bulk of these earnings. Investment securities contributed N2.5 billion, while loans added another N2.1 billion.
After accounting for interest expenses, which rose to N13.8 billion largely due to customer liabilities, net interest income stood at N5.08 billion, reflecting a 49.81% increase compared to N3.4 billion in the prior year. Non-interest income also contributed meaningfully, with fees and commissions of N766.8 million and other income of N297.5 million boosting total operating income to N6.16 billion, a 62.66% increase year-on-year.
Operating expenses totaled N3.04 billion, mainly comprising personnel costs, depreciation, and amortization, leaving a pretax profit of N3.12 billion. After income tax of N960.5 million, post-tax profit rose to N2.16 billion, nearly doubling the N1.06 billion recorded in 2024. Earnings per share (EPS) climbed to 21 kobo from 11 kobo.
On the balance sheet, total assets increased to N165.8 billion from N84.2 billion, with financial investments accounting for 64.8% of total assets. Total obligations rose to N155 billion, largely driven by customer deposits of N79.6 billion, while total equity grew to N10.78 billion, supported by retained earnings of N2.4 billion.
Despite the strong results, shares of Abbey Mortgage Bank had not immediately reacted in the market as of 1 April 2026. However, with the stock already delivering over 54% returns so far this year, analysts suggest that the publication of these positive results could further influence investor sentiment and potentially push the share price higher in the coming sessions.