Bennett Oghifo
AG Mortgage Bank Plc has posted a sharp improvement in its 2025 financial performance, with the lender’s board and management crediting the results to a deliberate strategy of expanding funding capacity, growing the balance sheet and deepening its commitment to sustainable housing finance in Nigeria.
The disclosures were made at the bank’s 2026 Annual General Meeting, held via Zoom on September 25, where shareholders were told that gross earnings rose by 42 per cent to ₦4.93 billion in 2025, up from ₦3.47 billion the previous year. Profit before tax climbed 89 per cent to ₦1.38 billion, while profit after tax jumped 130 per cent to ₦1.06 billion, pushing earnings per share from ₦4.59 kobo to ₦10.55 kobo.
Speaking at the meeting, Chairman of the Board, Rev. Abel Amadi, PhD, said the results were achieved despite a “challenging operating environment” marked by persistent inflation, elevated interest rates and exchange-rate volatility — conditions he noted had placed particular strain on housing affordability and access to long-term mortgage finance across the country.
“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.
Central to the bank’s narrative was a significant expansion of its balance sheet. Total assets grew by 48 per cent to ₦33.04 billion, from ₦22.37 billion in 2024, while loans and advances rose by 44 per cent to ₦22.71 billion. Customer deposits also increased by 14 per cent to ₦9.48 billion, and shareholders’ funds strengthened by 17 per cent to ₦7.16 billion.
Mr. Ngozi Anyogu, the Managing Director and Chief Executive Officer of the bank described the loan book growth as “particularly important,” saying it reflected the institution’s growing capacity to deploy funding into mortgage lending while maintaining credit discipline and portfolio quality.
Funding Capacity and Sustainable Housing Finance
Both the Chairman and the Managing Director/CEO placed heavy emphasis on 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.
Mr. Anyogu said these funding relationships extended “beyond liquidity,” enhancing the bank’s ability to participate in programmes designed to widen access to housing finance and expand the pool of potential Nigerian homeowners the bank can serve.
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 — as the bank positions itself, under its Project Momentum 2030 agenda, for what officials described as a more technology-driven, customer-centric future.
On risk management and governance, the management stressed that growth would not come at the expense of prudence. The board said it had strengthened oversight of credit quality, liquidity, enterprise risk and regulatory compliance during the year, while management said its credit risk approach now incorporates forward-looking assessment of macroeconomic conditions in line with IFRS 9 requirements.
On dividend and outlook, the board recommended a final dividend of ₦50 million, representing ₦0.50 per share, which it said reflected the bank’s improved performance while preserving capacity to fund future growth.
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, with 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. They are; Dr. Mark Chigozie, Mr. Monday Ubani, and Engr. Eme Tasie, among others.