Abbey Mortgage Bank PLC has released its unaudited financial statements for the period ended September 30, 2025, showing significant expansion across key financial metrics compared to the previous year.
The mortgage lender’s total assets surged to ₦111.35 billion as of September 2025, representing a substantial 32% increase from ₦84.25 billion recorded in December 2024.
The financial statements, in a notice sent to the Nigerian Exchange Limited (NGX) on Friday, were approved by the Board of Directors on October 21, 2025, and signed by Chairman, High Chief Samuel Oni; Managing Director/CEO, Mobolaji Adewumi; and Financial Controller, Oluwatomi Olurinola.
This growth trajectory underscores the bank’s expanding footprint in Nigeria’s mortgage sector.
One of the most notable highlights was the dramatic rise in customer deposits, which climbed to ₦79.77 billion from ₦53.90 billion—a remarkable 48% year-over-year increase. This surge in deposits reflects growing customer confidence and the bank’s enhanced ability to mobilise funds for lending operations.
Loans and advances to customers grew by 20%, rising from ₦12.07 billion to ₦14.49 billion during the nine months. The expansion in lending activity aligns with the bank’s core mission of providing mortgage finance to Nigerians.
Abbey Mortgage Bank’s cash reserves showed mixed trends. While cash on hand increased more than threefold, from ₦15.3 million to ₦46.8 million, cash balances with the Central Bank of Nigeria remained flat at ₦1.02 billion. However, funds held with other banks and financial institutions nearly doubled to ₦27.20 billion from ₦13.93 billion.
Retained earnings grew modestly to ₦1.97 billion from ₦1.13 billion as of December 2024, indicating sustained profitability. The bank’s total equity position stood at ₦10.07 billion, up from ₦9.23 billion at year-end 2024.
The bank maintained a diversified investment strategy, with ₦72.69 billion in financial investments held at fair value through profit or loss, and an additional ₦1.41 billion in property and equipment.
To fuel its growth, Abbey Mortgage Bank expanded its borrowings. Amounts due to other banks increased from ₦10.96 billion to ₦13.87 billion, while obligations under deposits for shares and funds for on-lending rose significantly.
The results suggest Abbey Mortgage Bank is positioning itself as a growing force in Nigeria’s mortgage banking sector, with strong deposit mobilisation and asset expansion during the first three quarters of 2025.
