AG Mortgage Bank Plc recorded a sharp improvement in its 2025 financial performance, with profit after tax rising by 130 per cent to ₦1.06 billion.
The figures were disclosed at the bank’s 2026 Annual General Meeting, held virtually on September 25.
Gross earnings increased by 42 per cent to ₦4.93 billion in 2025, compared with ₦3.47 billion in the previous year.
Profit before tax also climbed by 89 per cent to ₦1.38 billion, while earnings per share rose from ₦4.59 to ₦10.55.
AG Mortgage Bank Expands Balance Sheet
The bank’s total assets grew by 48 per cent to ₦33.04 billion from ₦22.37 billion in 2024.
Loans and advances increased by 44 per cent to ₦22.71 billion, while customer deposits rose by 14 per cent to ₦9.48 billion.
Shareholders’ funds also strengthened by 17 per cent to ₦7.16 billion.
Managing Director and Chief Executive Officer, Ngozi Anyogu, described the growth in the loan book as particularly significant.
According to Anyogu, the expansion reflected the bank’s increased capacity to deploy funding into mortgage lending while maintaining credit discipline and portfolio quality.
Bank Highlights ₦7.83bn Mortgage Facility
Funding capacity was a major focus of the bank’s presentation to shareholders.
The lender highlighted its ₦7.83 billion Mortgage Refinance and Investment Enhancement Facility (MRIEF), alongside continued access to Federal Mortgage Bank of Nigeria funding for qualifying National Housing Fund lending.
Anyogu said the funding relationships went beyond liquidity, supporting the bank’s participation in programmes designed to expand access to housing finance.
The bank said its product development strategy remains focused on affordable and liveable housing while creating value for customers, employees, shareholders and communities.
Management Emphasises Risk Management
The bank’s board said growth during the year was accompanied by strengthened oversight of credit quality, liquidity, enterprise risk and regulatory compliance.
Management also said its credit risk approach incorporates forward-looking assessments of macroeconomic conditions in line with IFRS 9 requirements.
Chairman of the Board, Rev. Abel Amadi, said the financial results were encouraging despite inflation, elevated interest rates and exchange-rate volatility.
“These results are particularly encouraging because they demonstrate that the Bank was able to achieve meaningful growth while operating within a demanding economic environment,” Amadi told shareholders.
AG Mortgage Bank Proposes ₦50m Dividend
The board recommended a final dividend of ₦50 million, representing ₦0.50 per share.
According to the board, the proposal reflects the bank’s improved performance while preserving its capacity to finance future growth.
AG Mortgage Bank, which marked 21 years of operations in 2026, said its next phase would focus on scale, efficiency, customer reach and sustainable value creation.
The bank also plans to deepen its mortgage business and expand its reach through technology and strategic partnerships.
At the end of the AGM, members of the Audit Committee were re-elected, including Dr. Mark Chigozie, Mr. Monday Ubani and Engr. Eme Tasie.
