Abbey Mortgage Bank Plc has announced strong financial results for the third quarter ended September 30, 2025, reporting a pre-tax profit of ₦670 million, a 63.24 per cent year-on-year (YoY) growth, surpassing its Q3 2025 forecast by more than 58 person cent.
According to the unaudited financial results released by the bank, the third-quarter performance lifted its nine-month pre-tax profit to ₦1.52 billion, representing a 57 percent increase from the same period in 2024 and already 18 per cent higher than its full-year 2024 profit.
Post-tax profit also rose 63 per cent YoY to ₦642 million from ₦393 million in the prior-year period, while gross earnings for Q3 climbed 65 per cent to ₦5.59 billion.
For the nine months, total gross earnings grew 62 per cent to ₦13.69 billion, driven by robust interest and fee-based income.
Interest income surged 61.62 per cent to ₦5.28 billion, accounting for 74.46 per cent of gross earnings.
The increase was largely attributed to income generated from cash and short-term funds, which rose by 96 per cent in Q3 to ₦4.19 billion and contributed 79.3 per cent to total interest income.
However, the bank faced higher funding costs as interest expenses jumped 74.72 per cent to ₦4.13 billion, reflecting a 47 per cent growth in customer deposits within six months.
Despite this, Abbey Mortgage Bank maintained a positive margin, with net interest income increasing 27.55% to ₦1.16 billion.
The bank also recorded significant growth in non-interest revenue, as fee and commission income surged 187.5 per cent to ₦233 million, underlining its strategic diversification beyond core lending operations.
Total operating income rose 43.21 per cent year-on-year to ₦1.47 billion, while operating expenses increased moderately by 29.83 per cent.
Earnings per share advanced by 63.16 per cent to ₦0.25, underscoring stronger profitability and shareholder value creation.
On the balance sheet side, total assets expanded by 32.16 per cent to ₦111.35 billion, driven by a 47.99 per cent rise in customer deposits to ₦79.77 billion, a reflection of growing investor and depositor confidence in the institution.
Abbey Mortgage Bank’s impressive performance including beating its Q3 profit forecast by over 58 per cent , strong earnings growth, and solid balance sheet expansion, highlights its operational resilience and improved efficiency.
The bank’s year-to-date share price appreciation of 127 per cent further signals growing investor confidence in its outlook and profitability potential.
Nonetheless, the surge in funding costs points to the need for sustained cost management and efficiency amid Nigeria’s high-interest-rate environment.