AG Mortgage Bank Plc has reported a significant improvement in its 2025 financial performance, with gross earnings rising by 42% to ₦4.93 billion, up from ₦3.47 billion the previous year. The bank's board and management attributed the results to a deliberate strategy of expanding funding capacity, growing the balance sheet, and deepening its commitment to sustainable housing finance in Nigeria. This achievement was announced at the bank's 2026 Annual General Meeting, held via Zoom.
The bank's profit before tax climbed 89% to ₦1.38 billion, while profit after tax jumped 130% to ₦1.06 billion, pushing earnings per share from ₦4.59 kobo to ₦10.55 kobo. Chairman of the Board, Rev. Abel Amadi, PhD, noted that these results were achieved despite a challenging operating environment marked by persistent inflation, elevated interest rates, and exchange-rate volatility. These conditions have placed particular strain on housing affordability and access to long-term mortgage finance across the country.
Central to the bank's narrative was a significant expansion of its balance sheet. Total assets grew by 48% to ₦33.04 billion, from ₦22.37 billion in 2024, while loans and advances rose by 44% to ₦22.71 billion. Customer deposits also increased by 14% to ₦9.48 billion, and shareholders' funds strengthened by 17% to ₦7.16 billion. This expansion reflects the institution's growing capacity to deploy funding into mortgage lending while maintaining credit discipline and portfolio quality.
The bank's Managing Director and Chief Executive Officer, Mr. Ngozi Anyogu, described the loan book growth as particularly important. He emphasized the bank's efforts to broaden its funding base in support of long-term mortgage lending. A key highlight was the ₦7.83 billion Mortgage Refinance and Investment Enhancement Facility (MRIEF), alongside continued access to Federal Mortgage Bank of Nigeria (FMBN) funding for qualifying National Housing Fund lending.
On sustainability, the management said its product development strategy remained aligned with supporting affordable and liveable housing while creating shared value for customers, staff, shareholders, and communities. The bank is positioning itself, under its Project Momentum 2030 agenda, for a more technology-driven, customer-centric future. This approach aims to deepen its core mortgage business and extend its reach through technology and strategic partnerships.
The bank's board and management stressed that growth would not come at the expense of prudence. They have strengthened oversight of credit quality, liquidity, enterprise risk, and regulatory compliance during the year. The management's credit risk approach now incorporates forward-looking assessment of macroeconomic conditions in line with IFRS 9 requirements. This ensures that the bank maintains a robust risk management framework.
AG Mortgage Bank, which marked 21 years of operations this year, said its next phase of growth would focus on scale, efficiency, customer reach, and sustainable value creation. The bank plans to deepen its core mortgage business and extend its reach through technology and strategic partnerships. At the end of the AGM, members of the Audit Committee were reelected, including Dr. Mark Chigozie, Mr. Monday Ubani, and Engr. Eme Tasie.
Key points
- AG Mortgage Bank Plc's gross earnings increased by 42% to ₦4.93 billion in 2025.
- The bank's profit after tax jumped 130% to ₦1.06 billion in 2025.
- The bank's total assets grew by 48% to ₦33.04 billion in 2025.
