AG Mortgage Bank posts 48% asset increase to N33.04 billion
AG Mortgage Bank Plc’s total assets rose 48 percent, reaching N33.04 billion in 2025, up from N22.37 billion in 2024, the bank said in its 2025 annual report.
The balance-sheet expansion accompanied growth across the bank’s core financial lines. According to the report, loans and advances rose 44 percent to N22.71 billion from N15.82 billion, while cash and cash equivalents jumped 195 percent to N6.96 billion from N2.36 billion.
Customer deposits grew by 14 percent to N9.48 billion from N8.31 billion, and shareholders’ funds climbed 17 percent to N7.16 billion from N6.10 billion. The annual report said total liabilities increased 59 percent to N25.88 billion from N16.26 billion.
Income also strengthened. Gross earnings were up 42 percent to N4.93 billion in 2025, from N3.47 billion the year before. According to the report, Profit Before Tax rose 89 percent to N1.38 billion, and profit after tax increased 130 percent to N1.06 billion from N458.7 million.
Rev. Abel Amadi (PhD), chairman of AG Mortgage Bank’s board, said the bank will continue to pursue growth while maintaining governance and risk management, as it positions itself to serve Nigeria’s housing finance needs. BusinessDay reported he said this at the bank’s 2026 annual general meeting.
Ngozi Anyogu, the managing director and chief executive, credited higher business volumes, stronger income generation and focus on earnings quality for the better results, even as the bank faced elevated funding costs, inflation and reduced household purchasing power. Anyogu said, “Despite the operating challenges, the bank delivered a significantly improved financial performance.”
Anyogu added that the lender had focused on disciplined growth, strengthening the balance sheet, expanding funding capacity and improving service to customers. He also said the institution launched a revamped website to mark the bank’s 21st anniversary “which is poised to scale the operations of AG Mortgage Bank.”
The report said the board outlined a strategy to grow its reach by deepening the core mortgage business, expanding housing finance opportunities, diversifying funding sources, improving customer experience and leveraging technology and partnerships.
BusinessDay reported the figures and statements from the bank’s 2025 annual report and comments made at the bank’s 2026 annual general meeting.
Source: BusinessDay, citing AG Mortgage Bank 2025 annual report and remarks at the 2026 AGM
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