Abbey Mortgage Bank Plc has reported a profit after tax of N1.45bn for the nine months ended September 30, 2025, representing a 56.4 per cent increase compared with the N928.25m recorded in the same period of 2024.
The bank’s gross earnings rose to N13.69bn from N8.45bn in the corresponding period of 2024, while profit before tax increased to N1.52bn, up 56.7 per cent year-on-year. Earnings per share for the period stood at 19 kobo, up from 8.45 kobo in September 2024.
Net interest income, the difference between interest earned and interest paid, grew to N3.10bn, compared with N2.42bn in the previous year, driven by higher interest income, which rose to N13.09bn from N8.10bn. Total operating income for the period reached N3.70bn, up from N2.77bn a year earlier.
Operating expenses for the period increased to N2.18bn from N1.80bn in the prior period, reflecting higher personnel and other operating costs. Despite the rise in expenses, the bank maintained strong profitability margins.
On the balance sheet, total assets rose to N111.35bn from N84.25bn in December 2024, while customer deposits increased to N79.77bn from N53.90bn.
Loans and advances to customers declined to N6.37bn from N12.07bn over the same period. Shareholders’ equity grew to N10.07bn from N9.23bn.
The bank’s statement of financial position showed robust liquidity, with cash balances with the Central Bank and due from other banks amounting to N28.27bn. Regulatory reserves and statutory reserves were fully maintained.
