Alert Group's Profit Soars 128% with Deposits at N94.82B

In the first half of 2026, Alert Group achieved a profit before tax of N1.31 billion, marking a 127.8% year-on-year increase, as revealed in its unaudited financial statement. The Group's profit after tax also rose by 128% to N865.29 million, while total assets surged by 301.2% to N118.35 billion.

A key contributor to this growth was Alert Microfinance Bank, which reported a 52.4% increase in both profit before tax (N725.26 million) and profit after tax (N478.67 million). The most notable growth was in deposits, which jumped 474.7% to N94.82 billion, and loans and advances increased by 224.2% to N80.41 billion.

Group Chief Executive Officer Olanrewaju Kazeem attributed this expansion to a strategic focus on enhancing financial services for underbanked and unbanked Nigerians. Despite challenges such as high interest rates and rising operational costs, the Group maintained a non-performing loan ratio below 4%.

The loans-to-deposits ratio improved to approximately 84.8%, reflecting a strengthened funding structure.