AG Mortgage Bank Assets Rise 48% to N33.04bn as Profit Jumps 130%

AG Mortgage Bank Plc increased its total assets by 48 per cent to N33.04 billion in 2025, from N22.37 billion recorded in the previous year, as the lender expanded its loan portfolio and strengthened its funding capacity.

Chairman of the bank’s Board of Directors, Rev. Dr. Abel Amadi, said the lender would continue to pursue sustainable growth while maintaining strong governance and risk management.

“The quality and sustainability of the Bank’s growth are as important as the growth itself,” Amadi said at the bank’s 2026 Annual General Meeting.

According to the bank’s 2025 annual report, loans and advances grew by 44 per cent to N22.71 billion from N15.82 billion, while cash and cash equivalents surged by 195 per cent to N6.96 billion from N2.36 billion.

Customer deposits also increased by 14 per cent to N9.48 billion from N8.31 billion, while shareholders’ funds rose by 17 per cent to N7.16 billion from N6.10 billion.

Total liabilities, however, increased by 59 per cent to N25.88 billion from N16.26 billion.

Amadi said the bank continued to strengthen and diversify its funding sources during the year, stressing the importance of appropriately structured, long-term funding to the mortgage-banking sector.

“The Board remains committed to strengthening AG Mortgage Bank as an institution capable of delivering sustainable value to shareholders while fulfilling its important role in expanding access to housing finance in Nigeria,” he said.

He added that the bank’s growth strategy was increasingly focused on building “a larger, stronger, technology-driven and customer-centric institution” capable of responding effectively to Nigeria’s housing-finance needs.

The balance-sheet expansion was accompanied by stronger earnings. Gross earnings rose by 42 per cent to N4.93 billion from N3.47 billion, while profit before tax increased by 89 per cent to N1.38 billion.

Profit after tax also jumped by 130 per cent to N1.06 billion, compared with N458.7 million recorded in the previous year.

Managing Director and Chief Executive Officer of AG Mortgage Bank, Ngozi Anyogu, attributed the improved performance to higher business volumes, stronger income generation and continued focus on earnings quality despite elevated funding costs, inflation and reduced household purchasing power.

“Despite the operating challenges, the Bank delivered a significantly improved financial performance,” Anyogu said.

He said the bank responded to the challenging economic environment by focusing on “disciplined growth, strengthening our balance sheet, expanding funding capacity and improving the Bank’s ability to serve its customers.”

As part of activities marking its 21st anniversary, Anyogu said the bank had also launched a revamped website aimed at improving and scaling its operations.

He said the growth in the loan portfolio demonstrated the bank’s increasing capacity to deploy funding into mortgage and other appropriate lending opportunities while maintaining credit discipline and portfolio quality.

Going forward, AG Mortgage Bank said it would deepen its core mortgage business, expand housing-finance opportunities, diversify its funding base, improve customer experience and leverage technology and strategic partnerships to extend its reach.