Q1 2021: Abbey Mortgage Bank forecasts N60m profit


By Kayode Tokede

Abbey Mortgage Bank Plc released its earnings forecast for  first quarter ending March31, 2021 (Q1) at the Nigerian Stock Exchange (NSE) with gross earning put at N649.83 million and profit after tax of N60.129 million

The mortgage bank expects cash and cash equivalent at the end of the period to rise to N15,163,240 from N10,672,322 at the beginning of the period.

Despite recording not too impressive results in its last financial statements, the firm is, however, optimistic going for Q1 2021 as reflected in its forecast.

This optimism might be premised on the news of a positive general economy by Q1 2021, which will trickle down to various sub-sectors of the economy.