AG MORTGAGE BANK ASSETS GROW TO N33.04BN

AG Mortgage Bank Plc increased its total assets by 48 per cent to N33.04bn in 2025, up from N22.37bn recorded in the previous year.

The growth was driven by an expansion in the bank’s loan portfolio and stronger funding capacity, according to its 2025 annual report.

Loans and advances rose by 44 per cent from N15.82bn to N22.71bn, while cash and cash equivalents increased by 195 per cent to N6.96bn from N2.36bn.

Customer deposits also grew by 14 per cent to N9.48bn, compared with N8.31bn in 2024. Shareholders’ funds increased by 17 per cent to N7.16bn, while total liabilities rose by 59 per cent to N25.88bn.

The bank also recorded stronger earnings during the period. Gross earnings increased by 42 per cent to N4.93bn, while profit before tax rose by 89 per cent to N1.38bn. Profit after tax grew by 130 per cent to N1.06bn from N458.7m.

The Chairman of AG Mortgage Bank, Abel Amadi, said the bank would continue to pursue growth while maintaining strong governance and risk management.

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

The bank said it would continue to deepen its mortgage business, diversify funding sources, improve customer experience and use technology and partnerships to expand access to housing finance.