Abbey Mortgage Surges 62%, Boosts Q3 Profit

Abbey Mortgage Bank Plc has reported another quarter of solid performance, anchored by a sharp rise in interest income, which surged 61.62 per cent year-on-year (YoY) to ₦5.28bn, contributing 74.46 per cent to gross earnings for the third quarter (Q3) ended September 30, 2025.

The growth was primarily driven by higher income from cash and short-term funds, which jumped 96 per cent to ₦4.19bn, accounting for 79.3 per cent of total interest income.

Despite higher funding costs, reflected in a 74.72 per cent increase in interest expenses to ₦4.13bn, the bank maintained strong margins as net interest income rose 27.55 per cent to ₦1.16bn.

Abbey Mortgage Bank’s focus on revenue diversification also paid off, with fee and commission income surging 187.5 per cent to ₦233m, highlighting its growing non-interest income base.

This boosted total operating income by 43.21 per cent to ₦1.47bn, while operating expenses grew moderately by 29.83 per cent to ₦797m.

The strong top-line growth translated into improved profitability.

The bank posted a pre-tax profit of ₦670m in Q3 2025 — up 63.24 per cent YoY and surpassing its quarterly forecast by more than 58 per cent

This performance brought its nine-month pre-tax profit to ₦1.52bn, representing a 57 per cent YoY increase and already exceeding its full-year 2024 profit by over 18 per cent. Post-tax profit also climbed 63 per cent to ₦642m, while earnings per share rose 63.16 per cent to ₦0.25.

On the balance sheet, total assets expanded 32.16 per cent to ₦111.35bn, supported by a 47.99 per cent increase in customer deposits to ₦79.77bn, underscoring rising investor and depositor confidence in the bank.

Overall, Abbey Mortgage Bank’s Q3 2025 performance reflects its sustained growth trajectory, underpinned by strong interest income, rising fee-based revenue, and solid balance sheet expansion, a testament to its strategic focus on profitability and operational efficiency.