AG Mortgage Bank grows assets 48% to N33bn as housing finance demand builds
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AG Mortgage Bank grew total assets by 48 per cent to N33.04 billion and gross earnings by 42 per cent to N4.93 billion in 2025, its board chairman has told shareholders at the lender's 2026 annual general meeting.
AG Mortgage Bank Plc has reported a 48 per cent increase in total assets for 2025, with the Nigerian housing-finance lender positioning itself to benefit from growing demand for home loans.
Total assets rose to N33.04 billion at the end of 2025 from N22.37 billion a year earlier, according to the bank's 2025 annual report presented at its 2026 annual general meeting.
Loans and advances increased 44 per cent to N22.71 billion from N15.82 billion, while cash and cash equivalents surged 195 per cent to N6.96 billion from N2.36 billion. Customer deposits rose 14 per cent to N9.48 billion from N8.31 billion and shareholders' funds climbed 17 per cent to N7.16 billion from N6.10 billion. Total liabilities, however, grew 59 per cent to N25.88 billion from N16.26 billion.
Earnings also improved. Gross earnings rose 42 per cent to N4.93 billion from N3.47 billion, profit before tax increased 89 per cent to N1.38 billion, and profit after tax rose 130 per cent to N1.06 billion from N458.7 million.
Rev. Abel Amadi, chairman of the bank's Board of Directors, said the lender would continue to pursue 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 told shareholders.
Managing director and chief executive Ngozi Anyogu attributed the performance to improved business volumes and stronger income generation despite elevated funding costs, inflation and reduced household purchasing power. Amadi said the board remained committed to expanding access to housing finance in Nigeria, describing the bank's strategy as focused on building a larger, stronger and technology-driven institution.