Abbey Mortgage Bank Q1 2026 Profit Hits N750 Million

Abbey Mortgage Bank Plc released its unaudited financial results for the first quarter ending March 31, 2026, reporting a pre-tax profit of N750.282 million. This figure represents a significant increase of 108.79% compared to N359.342 million in Q1 2025 and surpasses the forecasted pre-tax profit of N388.51 million.

The bank's performance was bolstered by a nearly 100% rise in profit after tax, amounting to N715 million, compared to N533 million in 2025. Earnings per share improved significantly to 28.18 kobo from 13.41 kobo in Q1 2025.

The growth in profit was driven by a combination of factors, particularly robust interest income growth, with net interest income rising to N1.32 billion from N925.496 million. Abbey Mortgage Bank's total assets grew by 34% to N222.394 billion, with customer deposits constituting a significant portion of the balance sheet.

Despite a year-to-date stock decline of 1.56%, the bank's shares gained 0.35% intraday, reaching N6.30 on April 30, 2026.